Cost Segregation

If you own a residential rental or commercial building, you may be eligible for substantial tax breaks for depreciating your property through a cost segregation analysis. For more information on how different types of buildings are depreciated and what items may qualify for accelerated depreciation methods, read this C.P.A. Insight.

Estate Planning Tool—Qualified Personal Residence Trust

A Qualified Personal Residence Trust can be used as part of your overall estate plan to transfer the family home to your children or grandchildren, without incurring federal estate tax. However, there are some tax considerations for your heirs if they choose to sell the property in the future. For more information on Qualified Personal Residence Trusts, read this C.P.A. Insight.