Have you purchased or renovated real estate? If you have and are looking for additional deductions, a cost segregation study may be beneficial.
In addition to cost segregation opportunities, section 179 expensing as well as 100% bonus depreciation are additional potential deductions that could maximize the return on your investment.
Remember that bonus depreciation is now available for “new to you” property and items such as roofs and HVACs are now potentially eligible for immediate expensing under section 179.
For more information on maximizing your deductions, contact Julie Helms – Director of Specialty Tax Services or your Lurie trusted advisor.