As companies seek tax solutions that offer insights for capital-intensive industries, Weaver’s Fixed Asset Advisory team steps in and delivers solutions that reduce tax liabilities and increase asset value. Providing professional guidance in federal capitalization and cost recovery, Weaver professionals help position organizations for long-term success while addressing immediate investment needs and related capital costs.
Our Services Include:
- Cost segregation
- Tangible property capitalization and repair studies
- Fixed asset reviews
- Accounting method changes
- Energy-efficient commercial building deductions
Industry Best-Practices for Fixed Assets
Navigating fixed asset reporting is an ongoing endeavor for many businesses. Weaver’s professionals are committed to taking on the complexities that surround fixed assets and offering solutions that stem from industry best-practices. With a deep understanding of tangible property taxation and federal tax law, our professionals have the necessary experience to help your team overcome operational challenges and facilitate fixed asset management efforts.
Our team includes CPAs, engineers and Internal Revenue Service (IRS) enrolled agents (EA) who focus on accounting methods, capitalization, cost recovery and various tax credit matters. No matter the size of your business, Weaver’s Fixed Asset Advisory Services can greatly benefit a wide range of industries including real estate, industrial and the consumer products space.
Cost Segregation Studies
Initiating a cost segregation study is a valuable and effective way to increase tax deductions and reduce taxable income. Our professionals often turn to this option when a client is constructing a new building, renovating or expanding an existing building, making leasehold improvements or acquiring real property and land improvements. As our team studies the components of your project, Weaver properly allocates the construction costs between real property and personal property which often depreciate at different rates.
Benefits of a Cost Segregation Study
Cost segregation studies can be used to determine the correct tax units of property prescribed in regulations and to identify components of buildings and leasehold improvements in case of future repairs, partial dispositions and retirements. In addition to providing tax savings, cost segregation studies also help:
- Accelerate depreciation
- Allocate construction indirect costs
- “Catch-up” missed, prior year deductions by filing Form 3115, Application for Change in Accounting Methods
- Identify units of property for future repairs and dispositions
- Optimize gain deferral in opportunity zones
- Reduce REIT taxable income and helps manage distributions