Hey Mr. CPA!!!

Hey Mr. CPA, I walked in your shoes for more than a mile.? I was a practicing Certified Public Accountant for more than 50 years before getting into real estate full time.? I know what tax season is like and what the April 15th deadline is like as well.? My? thing was that I went to Palm Springs on April 16th every year!!!? I live in Los Angeles, so it was just a 2-hour ride!!!

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I had more than my share of Internal Revenue Service audits and I OWN the IRS.? I had a streak of 10 NO CHANGE audits in a row until one of my clients, without my knowledge, didn’t report a few hundred thousand dollars of income.? There was nothing that I could do with that audit except damage control.

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There is probably a service that you are not offering to your clients who invest in Commercial Real Estate.? When I started to practice real estate full time I talked with lots of potential clients and a good number of other CPAs.? I would ask three questions.? What is a Cost Segregation Study?? What is Bonus Depreciation?? What is happening to Bonus Depreciation?

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Wouldn’t you like to make more money and do the same amount of work?? I know what my answer would be a resounding YES!!!? If you have clients who invest in commercial real estate, ANY real estate that brings in income, even a single-family home that gets rented out, you should, no, you MUST have your client do a Cost segregation Study.? Through my meandering through the world of real estate investing and talking to many clients and potential clients, their CPAs either don’t know what a Cost Segregation Study is, don’t know how to use it, or are embarrassed to admit that they don’t know what it is and poo poo it to their clients.? Telll their clients not to get one.

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I am here today to tell you that you MUST perform a Cost Segregation Study and either get a handle on the amount of Tangible Personal Property that is attached to the structure, or building, and depreciate it over 5, 7.5, or 15 years instead of 27.5 years or 39 years.? Or, depending on the tax law that is going to be in force at the time, take Bonus Depreciation.? If you don’t do this you are not being a professional and you are not servicing your client to the fullest and you are leaving money, fees, on the table!!!? And all it takes is a phone call.

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My partner, Fred Sams, and I are associated with one of the largest, and BEST Cost Segregation Study companies in the United States.? The name of the company is CSSI LLC.? We can work with your clients to get them, and you, a FREE, I said a FREE estimate of the amount of income taxes that can be deferred for many years and give your clients a whole different picture of cash flow on the project.

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If you do not tell you client to get the Cost Segregation Study, you are committing malpractice.? I still take continuing education classes designed and given to CPAs, not realtors and they do teach this stuff to you.? They basically skim over it and spend a couple of minutes on it when I feel it should be discussed for at least an hour or two.

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Contact me, Paul Levine, at (818) 298 – 4000 after 10 AM Pacific Time Monday through Friday and yes, even on the weekends. Or, you can send an email to me at [email protected] and I will get back to you in a timely manner.? And we can get the ball rolling.? It’s something that you should want to do for your clients!!!? It’s something that you should want to do for yourselves!!!!!