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The IRS Guidelines for Non-Load Bearing Walls

You must show that you are re-using and storing the removed material for later use. The property owner can not be considering planning to re-use the walls, but must in fact actually be reusing the parts and storing them

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The IRS Guidelines for Non-Load Bearing Walls

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  1. Ta x R e d u c t i o n s E x p e r t s IRS The IRS Guidelines for Non-Load Bearing Walls www.expertcostseg.com

  2. INTERIOR NON-LOAD-BEARING WALLS AND COST SEGREGATION IRS 01 02 03 04 Mostly 95% of the interior partitions and non-load bearing walls are misclassified as short life property. Has your cost segregation specialist given you the right advice? The IRS has guidelines as to when these assets may be considered personal property. Have they set you up for a fall? www.expertcostseg.com

  3. TWO CRITERIA BY IRS IRS The IRS comes up with two criteria to consider it as short life. Here is the first criteria: You must show that you are re-using and storing the removed material for later use. The property owner can not be considering planning to re-use the walls, but must in fact actually be reusing the parts and storing them www.expertcostseg.com

  4. SECOND CRITERIA You must show that it is economically sensible to make this decision. Storage and removal costs should calculate as more economical than tearing out and building new. CREDIT CARD www.expertcostseg.com

  5. TAKE AWAY! Unless both of these criteria are met, owners may not consider the interior non-load-bearing walls as personal property. They should be classified as long-life property and depreciated over 39 years. Trust Your Tax Reduction Strategies to O’Connor . Our team of real estate advisors and commercial appraisers work with you  www.expertcostseg.com

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