Whether you are buying, building, or remodeling, Cost Allocation can be of great benefit to you. Here's how:

  • Buying? - Is Cost Allocation in your equation of determining the next property your purchase? It should be! We can work with you and you broker to help provide you with an estimate of the benefits you can realize prior to purchasing. When contemplating two properties Cost Allocation may be the missing variable that can help you decide which property best fits your needs and provide you with a greater return on your investment.
  • Building? - Is your Architect considering the benefits that can Cost Allocation can provide as he designs your building? He should! Our experienced engineers work with your Architect to show him how to design your building with Cost Allocation in mind. This end result: A luxurious building with maximized benefits available to you.
  • Remodeling?- Have you performed a Cost Allocation study prior to demolition? You should! Utilizing Cost Allocation you can accelerate the components that are identified as personal property, before you remove them, and write them off completely in the current tax year. This is a substantial tax savings you would miss otherwise.

Even if you are presently depreciating certain property in an accelerated schedule – your advisors may still be leaving your money on the table. Only if you have secured a Cost Allocation Study which can be performed only by specialized experts (per the IRS) will all allowable property be depreciated on an accelerated basis.

 

The following identifies what FORTUNE INFORMATION GROUP will provide within your study:

 

THE FORTUNE INFORMATION GROUP STEPS TO A COST ALLOCATION STUDY:

 

Our first step is a FREE – NO RISK Initial review where we perform a feasibility/applicability test by evaluating your (taxpayer – building owner) current tax status and future business plans to determine whether a Cost Allocation Study will benefit you.

After presenting you with our initial review should you decide that this not beneficial to you, you owe us nothing. Should you see that there indeed is a realized benefit and upon your approval to proceed FIG, Inc, Inc will perform the following activities:

 

  • Evaluate the building’s construction costs by component or systems.

  • Review the project's/facility' construction documents, including as built drawings, and project specifications.

  • Visit the facility/project to determine and identify how the component and systems are utilized - as well as to document the systems and components.

  • Provide a “Detailed Engineering” review of the assets including special purpose mechanical and electrical systems, decorative finishes, site improvements, and any process related to and special purpose construction.

  • Classify or reclassify each building component into the appropriate tax life as prescribed by IRS guidelines.

  • Identify and allocate indirect costs to each asset.

  • Assemble a written report with the asset detail supporting the reclassifications and completes the necessary tax form(s).

    FIG,INC. will include all necessary elements in your Cost Allocation Study.

    Like you – we believe that there is no reason to overpay taxes. Let FIG,INC. provide a preliminary No Cost, No Obligation review of your property and an estimate of IMMEDIATE CASH BENEFITS and Long Term Savings.

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    Last modified: 05/2007