Designed for CPAs and real estate professionals who are new to cost segregation, this course is a practical, broad-based overview of this popular strategy.  Your instructors, who are all cost segregation veterans, will provide an in-depth background of the most current information, including recent developments, how to measure potential savings and identify clients who qualify, how a study is performed, depreciation rules, the correct deliverable format, and more.  You’ll also discover how to add value to your practice by offering cost segregation and how to hire the right cost segregation provider.

Objectives:

- Provide a general overview of Cost Segregation.
- Learn how to identify qualifying projects.
- Overview of tax savings opportunities and issues.
- Discuss the IRS's position on Cost Segregation.
- Review what to look for in a Cost Segregation provider.

I. COST SEGREGATION OVERVIEW
          A. Cost Segregation Concept Defined
                    1. Similarities between Cost Seg and 1031s
                    2. Pros and Cons of Utilizing Cost Segregation
          B. When Should a Cost Segregation Study be Performed   
                    1. Qualifying Property
                    2. New Construction vs. Lookback
          C. Tax Deferral Opportunities and Issues
                    1. Depreciation Rules and Examples
                    2. Cost Segregation Case Study
                    3. Recapture
                    4. Commonly overlooked applications  
                            a. Abandonments
                            b. Structuring Lease Agreements
II. QUALIFYING PROPERTY: REAL VS. PERSONAL
          A. Critical Court Decisions Governing the Classification of Property
                    1. Whiteco
                    2. Morrison Incorporated
                    3. Hospital Corp ofAmerica
                    4. Boddie-Noel
           B. Special Tests
                    1. Permanency  
                    2. Appearance / Function  
                    3. Sole Justification 
III. IRS AUDIT TECHNIQUES GUIDE
           A. Audio Clip
           B. IRS Industry Specific Guidance - "13 Principal Elements of a Quality CSS"
           C. IRS Review and Examination of a Study - Audit Steps
           D. Cost Segregation Methodologies
IV. COST SEGREGATION REPORT AND PROPOSAL PROCESS / THE ENGINEERING PROCESS
           A. Typical Project Procedure Walkthrough
           B. Proposal Process
                   1. Information Needed for a Proposal
                   2. Cost : Benefit Ratios
                   3. Engagement Letter
V.  WHAT TO LOOK FOR IN A COST SEGREGATION PROVIDER