Segmented Depreciation (by Cathy [OH]) Mar 10, 2014 1:30 PM
Segmented Depreciation (by Rusty [MD]) Mar 10, 2014 1:50 PM
Segmented Depreciation (by Robert J [CA]) Mar 10, 2014 2:17 PM
Segmented Depreciation (by Kyle [IN]) Mar 10, 2014 3:18 PM
Segmented Depreciation (by Jeffrey [VA]) Mar 10, 2014 3:27 PM
Segmented Depreciation (by Martin [CO]) Mar 10, 2014 7:53 PM
Segmented Depreciation (by Cathy [OH]) Posted on: Mar 10, 2014 1:30 PM Message:
State Specific Question About: OHIO (OH)
Does anyone know about segmented depreciation. Does an accountant have to do this or can the common Landlord do this when they are doing their taxes. We have one rental property and it is our first one, so I am learning about the whole "depriciation" thing. Any advice would be helpful. THANKS!! --64.12.xxx.xx |
Segmented Depreciation (by Rusty [MD]) Posted on: Mar 10, 2014 1:50 PM Message:
My accountant told me that this was the way it was always done b4 WW2. The cost (timewise) of doing segmented deprc. just isn't worth the savings. Since it would b the account making the money, I have to believe him. --71.166.x.xxx |
Segmented Depreciation (by Robert J [CA]) Posted on: Mar 10, 2014 2:17 PM Message:
Most people have no idea what "segmented depreciation" is all about. Landlords are accustomed to the standard 5, 7 and 15 year depreciation on appliances, flooring, painting, roof and other improvements. Landlords also understand the 27.5 and 39 year rules on the building depreciation.
But "segmented depreciation" is a whole different item all together. It takes a lot more than one account to pull this one off with the IRS. You need many "contractor" estimates. Someone to compile and do a cost analysis with the contractors estimates. And an accountant to take the numbers and work a new depreciation schedule.
--98.119.x.xxx |
Segmented Depreciation (by Kyle [IN]) Posted on: Mar 10, 2014 3:18 PM Message:
You can segment depreciation yourself. You need to have an understanding of what your are splitting up though. For a single family home, it will not be worth too much to split up the various costs because the savings cannot add up to enough to make it worth it. Al Aiello has a course with information on how to split out different parts of the building to shorter depreciation times. That course or another resource that lists some common items that can be split out will be helpful if you are doing the segregation yourself. --68.46.xxx.xxx |
Segmented Depreciation (by Jeffrey [VA]) Posted on: Mar 10, 2014 3:27 PM Message:
Cathy, the course that Kyle is referring to by Al Aiello is available on this site (at a discounted price) and I would also highly recommend it. It's a great tax resource and can save you thousands in taxes that I would encourage every landlord to have. It is titled Renaissance Goldmine of Brilliant Tax Strategies. Go to the "Books" section of this site and put Goldmine in the search field. --205.188.xxx.x |
Segmented Depreciation (by Martin [CO]) Posted on: Mar 10, 2014 7:53 PM Message:
I mentioned this in another answer on depreciation, but I highly recommend the book "Every Landlord's Tax Deduction Guide" by Stephen Fishman. It will give you all the info and instruction you need to run a segmented depreciation yourself. --75.166.xxx.xxx |
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