Question: Which statement is correct regarding cost segregation studies? They can assist taxpayers in identifying and quantifying costs buried in the purchase price of a building
Which statement is correct regarding cost segregation studies?
They can assist taxpayers in identifying and quantifying costs buried in the purchase price of a building that qualify for faster depreciation deductions. They typically do not require review of blueprints, specifications, and cost data. They typically focus on building costs. Costs associated with land, including land improvements, are not depreciable. They are not intended to provide tax benefits through acceleration of depreciation tax savings.
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