Real Estate investing has created more millionaires than any other investment. What makes real estate investing unique is the ability to save thousands of dollars on taxes through the creative use of depreciation.
Most real estate investors lack the knowledge and creativity to reduce their taxes and are unintentionally overpaying on their taxes, and paying taxes years earlier than necessary, thereby losing thousands of dollars every year (Albert Aiello, 2007).
If you own real estate, you may know that properties can be depreciated over 27.5 years for residential and 39 years for commercial. However, as a real estate investor, you can increase your cash flow and reduce your taxes by obtaining a chattel appraisal. A chattel appraisal is a residential cost segregation report that will identify those items in your investment properties that can be depreciated at an accelerated rate (5 and 15 years) †.
At Mercury Chattel Appraisals, we provide you with detailed chattel valuation reports. These are cost-effective, tax-deductible, and provide you with an independent third party report on those items in your properties that can receive accelerated depreciation. You can give these reports to your tax accountant and start saving on your taxes today*.
† IRS code sections 167(a), 38, 168, and revenue procedures 87-56, and 88-22.
* Not everyone's savings and situation will be the same. You should see your CPA or an independent tax advisor to receive tax information specific to your situation.