What is cost recovery? Consider the following:
I bet your business would just love to discover that it has over payed the IRS and is due a big, fat refund. Dream on? Maybe not. There have been so many tax incentives that have been added to the IRS code since the landmark Hospital Corporation of America victory against the IRS in 1997 that it is hard to keep up. Many of the tax incentives, added via economic stimulus legislation, are so specialized and require so much expertise (e.g. requiring engineering expertise) that even most CPAs are not able to keep up.
But wait….there is hope and it is actually more than that…it is actually pretty exciting. During these hard economic times, many companies are actually increasing their cash flow (average “found” money is around $225,000….with some firms exceeding that many times), reducing their expenses (e.g. property taxes, insurance premiums and energy expenses) and re-cooping the money spent on purchasing commercial property.
Even if you have heard of terms such as cost segregation study, comprehensive energy management, cost recovery system, cost recovery method, ESCO and so forth….this is not the time to roll your eyes and say it is not for you. As many as 80-90% of manufacturing businesses and businesses with larger commercial holdings have substantial “hidden money”. A CPA who has done a cost seg for you, is likely to have only done a summary version.
Why? Because a regular CPA does not have the engineering expertise to do a full fledged cost segregation study. So what is the answer?
The really great news is that you can find out what your business qualifies for without any cost to your business….that is right….a free feasibility study. If money cannot be found there is no cost to your business. If it is found, a sort of finder’s fee is charged…..in the fee to benefit ratio of 1:10 or even 1:15.
In order to qualify for the free feasibility study, you need to have some of the following qualifications: commercial property purchased for more than $500,000(without the land), $350,000 in leasehold improvements, a payroll of $500,000 or greater and the list goes on …..depends on what niche incentive you are seeking. Energy cost reduction incentives should be checked out today…not only because of the reduction in expense but because stricter and mandatory compliance is coming down the pipeline (really soon).
The answer is to email or call me. EeeSquare is now a partnered with a national engineering/tax/legal consulting firm that specializes in these niche tax markets. They will provide a free feasibility study to determine the probable amount of cash refund that your business will get as well as other ways to reduce expenses. This firm has a remarkable track record because they are engineering/IRS experts….they have had zero disallowances with the IRS and put millions of dollars back in the pockets of the businesses who earned it (it is even endorsed by the IRS as a lucrative strategy).
Contact Lori@EeeSquare.com or call 877.265.6568 to find out if your business should have a free feasibility study…..why not? The money you stand to gain through cost recovery may be quite substantial.
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