Why Leave Your Money On The Table. Get A Cost Segregation Study For Your Rental Property From The Pioneer in The Industry
Call 972.38 Money or 972.386.6639
Why Leave Your Money On The Table. Get A Cost Segregation Study For Your Rental Property From The Pioneer in The Industry
Call 972.38 Money or 972.386.6639
Real estate depreciation is an important tool for commercial real estate and multi family rental property owners. It allows you to deduct the costs of buying and improving a property over its useful life and lowers your taxable income via a tax deduction in the process.
Under current tax law, your building is set to depreciate over 27.5 or 39 years. But many assets - like lighting, carpeting and cabinetry - depreciate much faster than that.
Cost segregation is a tremendously beneficial and widely used tax strategy used by commercial real estate owners to significantly reduce taxable income and increase cash flow. Once used only by the largest accounting firms and real estate owners, this practice has now become routine for commercial and residential properties of almost every size to optimize their tax deduction .
With a career spanning over thirty-five years of combined experience in the real estate, construction and tax arenas, Eric Ernst has developed a unique profile within the cost segregation industry. He is the founder and long time partner of Ernst Consulting Group, specializing in cost segregation studies for accounting firms and commercial real estate developers. As a former member of the tax department of Arthur Andersen, LLP in Atlanta, he developed the in-house estimating group within the appraisal and valuation department. Relevant experience during his tenure in the accounting world includes management of purchase price allocations, real estate appraisals, fixed asset / property records, state and local taxes and property tax studies. Eric’s unusual engineering expertise in cost segregation is built upon many years of working directly in the construction industry.
His early career involved hands-on construction experience in surveying, residential / commercial design and construction, and specialized millwork production. He used this experience to become a licensed journeyman electrician and subsequently a building inspector. As an estimator for a Trammell Crow development company he was responsible for contract reviews and eventually worked into project management.
Working for Arthur Andersen allowed him the opportunity to be involved in construction audits, claims and dispute litigation,
and direct dealings with the IRS. Over the years Eric has established a strong working relationship in cost segregation issues with the IRS. Eric has received expert witness status in US Tax Court, testifying on behalf of tax payers and the IRS. Eric received his Bachelor of Science degree in Building Construction with honors from the Georgia Institute of Technology with a strong emphasis on electrical engineering.
The engineering, construction, accounting, tax research and IRS experience
combined with his proprietary study methodology are very unique in this industry. The diverse background of the team members provides the framework of knowledge which enables them to work with a wide array of clients and projects. His background draw experience from the medical, electronics, logistics, construction, and cost estimating fields. We have extensive work experience in grocery, restaurants, automotive, manufacturing, medical, apartments and all aspects of retail. His team has been responsible for the generation of approximately 14,000 cost segregation studies of almost every conceivable product type and geographic area in the U.S. With 100% of our time devoted to cost segregation, they are the team for your cost segregation study!
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