With the expense of running a business and the high cost of taxes I am overjoyed to report I found a way to save quite a bit of money.  I was at a Rotary meeting and Barry mentioned that he recently explored cost segmentation services for his warehouse businesses.  He stated that the cost of hiring a group to come out and determine his net present value was paid for (or made up for) the first time his next quarterly tax payment was due-it was made up for by the money he saved in paying the IRS so much less than he has ever paid in the past.

Barry said the cost segregation company he used sent an engineer as well as an accountant to review the use of his building and reclassify areas that are eligible for accelerated depreciation.  He explained items that qualify may be anything from redundant HVAC units to specialized air filtration systems. 

Many of us at the Rotary meeting listed to Barry’s presentation about his experience and his savings while we were sitting on the edge of our seats.  It is interesting to think that we could have been running our accounting this way for years but I am at least thankful to know I can start today.

Technorati Tags: cost segmentation, depreciation, HVAC, Rotary