What Happens if the IRS Audits my Cost Segregation?
Let’s Look at Our Background and Qualifications
Let’s Look at Our Background and Qualifications
How Can O’Connor be so Confident?
While many other tax services or property firms may make similar claims, we have the history and reputation to back it up. Not only are we one of the largest property tax consulting firmss in the United States, but we have been in the business for over 50 years. We are one of the pioneers of cost segregation and have been doing it since it was seen as an esoteric trick that few commercial property owners knew about. We stand by our preliminary analysis as well, and they often come in 10% than the final results we deliver to our clients.
The O’Connor name is not the only reputable association we can confidently reference. Our personnel are some of the most experienced and qualified in the business. Many of our appraisers have been assessing property for over 30 years. They may be experts in cost segregation, but our appraisers have also done over 50,000 reports on different property matters. When Hurricane Harvey ravaged the city of Houston, we performed casualty and loss appraisals across the city, eventually totaling over 4,300. We did this on top of our usual business.
It can seem like cost segregation is some kind of mystery, but the truth is that it is a simple concept:
1. Every short-life and long-life asset must be determined and cataloged.
2. After factoring in depreciation, the current value of an asset must be determined.
3. The findings must then be summed up in a professional cost segregation report.