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When Cost Segregation studies are conducted, professional standards and technical accuracy are critically important, especially as studies are subject to IRS scrutiny. The best way to assess a provider’s qualifications is to confirm whether the person conducting your study is a Certified Cost Segregation Professional (CCSP) with the American Society of Cost Segregation Professionals (ASCSP).
Why CCSP Credentials Matter
Working with a credentialed CCSP ensures studies are:
- Conducted using recognized industry standards
- Maximize tax benefits while minimizing risk
- Supported by a clear methodological framework
- More likely to withstand audit scrutiny by tax authorities
KBKG’s Approach to Professional Standards
KBKG is proud to have more CCSPs than any other Cost Segregation provider in the country, a distinction that reflects our experience and adherence to rigorous professional standards. KBKG employees have combined service of over 30 years on the ASCSP Board of Directors, including 2 KBKG Principals who served as its president.
What is ASCSP?
The ASCSP is the premier credentialing organization in the cost segregation industry. Established in 2006, ASCSP was founded to set and uphold professional standards, ensuring integrity and expertise across the field. ASCSP plays a vital role in maintaining open dialogue with the IRS, particularly with its engineering leadership. The organization regularly invites key IRS officials to speak at its annual conferences, fostering collaboration and transparency.
Additionally, the ASCSP has provided comments and feedback to the IRS regarding revisions to the IRS Cost Segregation Audit Techniques Guide. Much like the CPA designation in accounting, the CCSP credential represents the highest level of professional achievement in the cost segregation field.
Requirements for the CCSP Credential
To become a CCSP, professionals must demonstrate a significant body of work and a high level of technical competence in the field of Cost Segregation. The process includes:
- Documenting at least 7 years of experience and 7,000 hours performing Cost Segregation studies
- Passing a two-part exam that covers technical, legal, and ethical topics
- Securing two recommendations from existing Certified members
- Providing a sample Cost Segregation report for peer review
- If necessary, completing an interview with the ASCSP Testing Committee
This process ensures that CCSPs have the experience, judgment, and technical knowledge needed to deliver a quality report with supportable conclusions.
Conclusion
Real estate investors, tax professionals, and property owners seeking Cost Segregation studies are encouraged to understand the qualifications and credentials of the providers they are evaluating. To learn more about ASCSP credentials or the industry standards followed by KBKG professionals, contact a KBKG Cost Segregation expert today.