(EMAILWIRE.COM, July 20, 2024 ) LAS VEGAS, NV: Torchlight Tax LLC., (https://torchlighttax.com), a full-service tax firm headquartered in Las Vegas, announced cost segregation-accelerated depreciation is a major tax break that many real estate investors are missing out on.

Torchlight Tax is offering these services to real estate investors, large and small, across the USA.

Dave Horwedel, CEO of Torchlight Tax, says that cost segregation-accelerated depreciation is a tax savings strategy that can be started even after the tax year is over. Those who wonder if they qualify can contact Torchlight Tax for a free consultation at
1-877-758-7797.

Horwedel stated: “If you own income-producing real estate and would like to lower your income tax bill, cost segregation might be the answer. Cost segregation for 2023 and earlier years can still be done. Your tax return can be amended, or, if not filed, can be filed to include cost segregation and accelerated depreciation, thus lowering your tax bill, or generating a refund.”

“A Cost segregation study identifies the different components that comprise a property, exclusive of land, and divides them into different categories based on their useful life as defined by the IRS. When you buy real estate, there are many things included with the building that could be depreciated faster than the building structure, such as parking lots, landscaping, appliances, flooring, cabinets, and even some electrical and plumbing. These depreciate in five, seven, or fifteen years.”

“Do you qualify for cost segregation? Anyone who has constructed, purchased, expanded, or remodeled any kind of real estate in the last 20 years is a candidate for cost segregation.”

Dave Horwedel is an Enrolled Agent and the CEO of Torchlight Tax LLC and GuardDog Tax, located in Las Vegas. The company is a full-service tax firm, offering tax preparation, filing of back tax and amended returns, setting up corporations, LLCs and Trusts, tax planning, retirement planning, bookkeeping and accounting, for clients across the US. GuardDog Tax is part of Torchlight Tax and offers IRS Representation services such as setting up payment plans, penalty abatement, audit, lien and levy defense and Offers in Compromise. Websites are https://torchlighttax.com and https://guarddogtax.com. They can be reached at 877-758-7797.