The popularity of cost segregation for real estate has been rapidly increasing over recent years. Many accounting firms now have whole divisions devoted to performing cost segregation studies and are enthusiastically marketing these services. The potential tax benefits of cost segregation are clear—tangible personal property and land improvements can be depreciated significantly faster than the rate at which a building can be depreciated. Therefore, since cost segregation allocates to tangible personal property and land improvements whatever portion of the cost is allocable to them, the process enables a taxpayer to increase the rate at which it depreciates the cost of real estate.
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