NEWS: CCIM Uses Cost Segregation to Generate $1.7 Million tax refund
When Arvid Albanese, a CCIM and President of the Albanese Group, LLC, in Ft. Lauderdale, FL, learned of the benefits of using cost segregation reporting, he commissioned a study on 900,000 sf of self-storage properties in his company’s inventory.“I liked the idea of getting capital out of my investments that I could turn around and invest in other areas,” says Albanese.
The study on the Albanese Group’s properties, conducted by a private firm, was completed within 30 days. Based on the results of the study, the Albanese Group amended past tax returns on the properties, and within 120 days had received two checks from the IRS – one for more than $800,000 and another for more than $900,000. Source: CCIM Institute email 6/5/09 www.ccim.com
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Deirdre G
Posted by: Real estate Philippines | November 12, 2009 at 12:09 AM