Although we assist all types of depreciable real estate properties, our niche specialty has been with Funeral Homes. Perkins Financial LLC (Greg Perkins) and Financial Income Strategies (John Scoble) are both independent consultants with Cost Segregation Services, Inc. (CSSI). While each has their own independent business, we have partnered in service to the funeral industry. Together we have brought significant income tax benefit – Cash Flow to Funeral Home Owners.

The benefit is derived through accelerated depreciation and the inherent expensing benefits available from the 2014 Tangible Property Regulations (TPR or Repair Regs). Now with the 2017 Tax Cuts and Jobs Act (TCJA) and the 2020 CARES Act, there are further enhanced benefits and cost segregation companies are going to be even more in demand to provide source documents that help deliver these benefits.

Greg and John have personally assisted more than 160 funeral homes in 35 states. We have supported Federated Fiducial and their clients since 2012; have been members of the AL and TN Funeral Directors Associations since 2012; have been members of The Independent Funeral Group since 2013; have been Preferred Partners for Selected Independent Funeral Homes since 2017; and have exhibited at NFDA since 2013. 

Cost Segregation has always been a valuable tool but became even more valuable with the passage of the Repair Regulations - Tangible Property Regulations (TPR), which became effective on Jan 1, 2014 and was the most sweeping Tax Code change since 1986. The regulation impacted every owner of depreciable property – essentially it dictates whether an owner gets to expense or has to capitalize expenditures. It is totally different from the past. A funeral home owner should have two goals. The first is compliance, the second is to benefit from expensing as much as authorized.

Because of the TPR complexities, nuances, and a lack of definitive guidelines, CSSI recognized that many building owners were not going to become compliant and take advantage of the tax savings without assistance from calculation specialists that can quantify the various components of a commercial building. With the 2017 TCJA and 2020 CARES Act provisions, never have more accelerated deductions been available due to Section 179, Bonus Depreciation, Qualified Improvement Property, and the benefits available from the Tangible Property Regulations. Cost Segregation became even more valuable again as we identify and quantify components eligible for all these.

If you own your building, you can send your Tax Asset Detail depreciation schedule and receive a free quantitative review. If you are anticipating renovations or building a new facility, you can call CSSI to discuss options to proactively plan to your firm's tax advantage.

Now is the ideal time to think about taxes and CSSI in collaboration with your own tax professional can help your firm navigate the tax law and find the greatest benefit for you.

For more details, contact either Greg Perkins at 256-683-3397 or John Scoble at 615-476-7449.

Click this link to request a free analysis.

For further information:
Greg’s website is: costsegregationconsulting.com
John’s website is: js.cssistudy.com