Taco Bell Pockets $600,000 with Cost Segregation using IRS Form 3115.
Recently we completed several cost segregation studies for owners of Taco Casa restaurants. They were so ecstatic that they called a friend of theirs, Jim…owner of 6 Taco Bells, in Monroe, Louisiana. Joey shared his success with cost segregation with Jim and he was hooked.
By classifying these assets at Taco Bell according to set IRS guidelines, we are able to increase the tangible personal property and land improvements through reallocation. This reallocation is done using MACRS method of depreciation. When contemporaneous records are available (e.g. invoices, drawings & closing documents or lease agreement), MACRS is required by the IRS.
Our initial estimate for Jim’s 6 Taco Bells was to accelerate about 25% to 5- & 15-year classification. This would deliver a bit over $300,000 in federal income tax credits. After our number crunching cost segregation process was completed we achieved almost double the reclassification of assets. It amounted to 47% reallocated…that equals over $600,000 in income tax credits. Wow was Jim happy! That is almost enough to pay cash to build a new Taco Bell!
Would you like to find out how much of an income tax credit you are due? It’s free and no obligation. We make the process simple. Complete our client questionnaire. It may take 5 minutes if you are a “hunt and peck” typist…2 if not. We’ll send you a detail benchmark analysis of your facility. Take it to your CPA or tax advisor. Confirm your ability to take advantage of your tax refund. Why wait? Do it today. In about 60 days or so you could experience a cash win-fall!
Want your questions answered now? Call us at 972-865-9050 or 443-Cost-Seg (267-8734).
We’re here to help get your hard earned money back in your pocket!