Practical Guide To Cost Segregation (3rd Edition)

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CCH's new booK not only explains how a cost segregation study is performed, but also outlines the steps needed to practice in this discipline and how to integrate and expand the broad practice of the firm taking it on.
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Practical Guide to Cost Segregation (3rd Edition) not only explains how a cost segregation study is performed, but also outlines the steps needed to practice in this discipline and how to integrate and expand the broad practice of the firm taking it on. Comprehensive discussion is supported by practical illustrative examples. The book also explains how to sell and price cost segregation studies and analysis as a meaningful service to a firm's clients.

Cost segregation involves much more than real estate. Land improvements and personal property components potentially eligible for separate depreciation over a reduced depreciation period include parking lots, sidewalks, curbs, roads, fences, storm sewers, landscaping, signage, lighting, security and fire protection systems, removable partitions, removable carpeting and wall tiling, furniture, and counters. Also potentially eligible are appliances and machinery unrelated to the operation and maintenance of the building and the portion of electrical wiring and plumbing properly allocable to machinery and equipment that is unrelated to the operation and maintenance of the building.

Contents:

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Practical Guide To Cost Segregation (3rd Edition)

Content and Topics

Part One: Introduction and Opportunities

  • 1. Introduction
    • What is a Cost Segregation Study (CSS)
    • How does a CSS benefit your client
    • Average value misclassified On various building types
    • The Interactive calculator -- the Benefits of a CSS quantified
  • 2. Opportunities
    • What types of clients will benefit
    • Prospecting within and outside your client base
    • PowerPoint Sales presentation
    • Cold-call letters sample
    • Pricing the engagement
  • 3. Working with the Client
    • Expertise required in conducting a CSS
    • Initial list of items to be prepared by the client
    • Managing client expectations (time frame for completion, Cost, benefit, client commitment)
    • Sample client engagement letters

Part Two: Performing the CSS

  • 1. Property Components (spreadsheet)
    • Rules used to categorize components
    • Cost Segregation Case Law and IRS Revenue Rulings
    • ITC
    • Hospital Corp of America
    • Other major cases (e.g., Morrison, Metro, Whiteco)
    • IRS Field Directives and Revenue Rulings
  • 2. Depreciation
    • MACRS property classes
    • Personal property and land improvements tests
    • Bonus depreciation and section 179 expense advantages
    • Depreciation recapture of Personal property
    • AMT risks of Personal property classification

About the Author(s):

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  • Paul G. Di Nardo, CPA has an undergraduate degree in accounting from The College of William and Mary in Virginia. He is a shareholder of The Cost Segregation Group and is a member of the AICPA and the VSCPA. He is also a shareholder in the CPA firm Wall, Einhorn and Chernitzer, PC in Norfolk, VA.

    His experience includes eight years of extensive work in the area of cost segregation and ten years in advanced tax planning strategies with KPMG. He was recognized by Inside Business magazine as one of the Top 40 Under 40 individuals in Hampton Roads, Virginia. He graduated from a three-year advanced sale and marketing school for professional service providers, Waugh and Co.'s "Rainmaker Academy," and achieved the top sales award in the class Monsoon Maker. He is a multi-year recipient of Virginia Business magazine's Super CPAs award honoring the top CPAs in Virginia. He has extensive experience in IRS representation from public companies to sole practitioners including representation of cost segregation studies. As of the date of this manual, no adjustments have been proposed on any cost segregation study he has represented.


  • Shirley C. Baldwin, CPA, CFP, MBA has an undergraduate degree in commerce with a concentration in accounting from the University of Virginia and an MBA from the College of William and Mary. She is a shareholder of The Cost Segregation Group, a shareholder of the CPA firm Wall, Einhorn & Chernitzer, PC in Norfolk, Virginia, and a member of the AICPA and VSCPA. She is a former KPMG, LLP partner with extensive experience in real estate, closely held businesses, and estate planning for closely held business owners. She is a multi-year recipient of Virginia Business magazine���s 'Super CPAs' award honoring top CPAs in Virginia.


  • Cathy A. Harris, CPA has an undergraduate degree in Business Administration with a concentration in accounting from Old Dominion University. She is the director of the Cost Segregation Group and a tax manager at the CPA firm Wall, Einhorn & Chernitzer, PC in Norfolk, VA.

    She has extensive experience in real estate taxation and depreciation from over 10 years at Wall, Einhorn & Chernitzer, PC and KPMG, LLP in Norfolk, Virginia. Cathy has several years of experience in organizing and instructing other CPA firms on how to establish their cost segregation practice. She is a member of the AICPA, the NSA, and the VSCPA. She is a recipient of Virginia Business magazine's "Super CPAs" award honoring top CPAs in Virginia and has published numerous articles for Inside Business magazine in Hampton Roads, Virginia. She is also an active member of several charitable organizations in Norfolk.

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