Erica began writing on small business topics in 2008. She joined Merchant Maverick in 2018 and focuses on loans, accounting, and POS. She is a Certified ProAdvisor for QuickBooks Online and QuickBooks Payroll. She has been cited in MSN, Reader’s Digest, Vox, U.S. News & World Report, and Real Simple. She is a graduate of Limestone University and resides in Greenville, South Carolina.
One form of relief offered to small businesses is the Employee Retention Tax Credit. First introduced in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, this tax credit could be claimed by eligible employers on quarterly tax returns. This program was expanded by the Consolidated Appropriations Act signed into law in December 2020, making the credit accessible to more employers.
The SBA offers a variety of loan programs that vary according to business needs. Its flagship program is the 7(a) loan program, which offers loans for most general business purposes. However, it also offers special programs such as microloans and disaster loans. Find out more about SBA loans, including who qualifies.
QuickBooks Online is cloud-based accounting software. It has the complex accounting capabilities that small business owners need and supports numerous integrations. Quickbooks Online has a lot to offer in terms of features, accounting, and usability.
Loans expert Erica Seppala talks inflation with Nasdaq.
Financial expert Erica Seppala analyzes in Real Simple what people in their 40s can do to strengthen their finances.
Loans expert Erica Seppala tells Real Simple why an app might help people pay down their debt faster.
An approach (or methodology) of cost segregation is the method used to allocate total project costs to property assets. These approaches rely on construction and cost documentation, estimates, sampling, or a combination of these things to accurately perform a cost segregation study.
A cost segregation company specializes in assessing property components for accelerated depreciation, which minimizes tax liabilities for real estate owners. Some companies may also offer additional tax credit services to help businesses save even more on their income tax returns. In this post, we’ve selected the best cost segregation companies to help you accelerate depreciation on your commercial or investment property.
You can find out for yourself with Duffy+Duffy’s feasibility analysis. The form is quick and easy to fill out, and you can get a personalized estimate of your tax benefits, as well as a quote for the study fee. It doesn’t cost a thing, so you can add this well-established firm to your list when you’re comparing the top cost segregation companies.
Engineered Tax Services is a specialty tax firm that has helped clients claim millions of tax credits and incentives since the company’s establishment in 2001. Engineered Tax Services boasts a team of accountants, attorneys, engineers, and scientists to help businesses with cost segregation, research and development (R&D) credits, employee retention tax credits (ERC), and other tax services.
Pros Free feasibility analysis for cost segregation Free tax calculators Numerous services & software to claim tax credits & incentives Tax services available nationwide Excellent public reputation Cons Fees not disclosed online (not uncommon in the industry) No live chat support feature What Is KBKG? KBKG is a tax consulting firm that has helped its […]
A cost segregation study gathers information that is used to maximize depreciation on commercial and investment properties. A cost segregation study gives an in-depth look at various components of the property (everything from appliances to landscaping) to determine costs that can be depreciated over a shorter period of five, seven, or 15 years. A cost segregation study is also crucial for property owners who want to recover costs more quickly in the first year with bonus depreciation.
Cost segregation is a tax strategy that property owners can use to accelerate the depreciation of a commercial or investment property. Cost segregation allows for certain components of the property to be depreciated over a shorter timeline of five, seven, or 15 years. This accelerated depreciation can lower a property owner’s tax liability and increase cash flow.
The easiest and most accurate way to do a cost segregation study is by hiring a cost segregation company. Your cost segregation team should include CPAs, engineers, and other experts. It is possible to do a cost segregation study yourself; however, we don’t recommend going this route.
CSSI has a solid reputation among property owners for its cost segregation services. The company places an emphasis on compliance and following regulations as it performs its cost seg studies, which is key to avoiding mistakes on your federal tax return and navigating an IRS audit.
Cost segregation is a tax strategy for taxpayers who own properties that are newly purchased, constructed, or remodeled. This strategy can be applied to property owned by individuals, corporations, trusts, or partnerships.
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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.
Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
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