Author Details


Patrick OConnor


Member Since: 07th April 2009
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No of Articles: 17
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04th January 2011

History of Cost Segregation

Cost segregation evolved as the result of multiple court cases and IRS rulings. The body of knowledge is summarized in the Audit Techniques Guide (ATG), published by the IRS. Component depreciation was a prior methodology that produced similar results ...

06th December 2010

Cost Segregation - Tax Deductions (Take every legal tax deduction you can)

Tax Rule No.1: Donít cheat the IRS. But that doesnít mean you should cheat yourself. Take every legal tax deduction you can. In addition to the numerous tax deductions the Internal Revenue Service allows, research indicates that most U.S. taxpayers do ...

08th September 2010

Alternative Minimum Tax Consequences Are Not a Result of Cost Segregation

Alternative Minimum Tax consequences are not a result of cost segregation. Nor is cost segregation accelerated depreciation. Decisions regarding cost segregation and accelerated depreciation are independent by the four options as illustrated in the follow...

09th July 2010

Tips on Market Value Appeal

The countdown to May 31 - the last day Texas homeowners can submit an appeal to protest their property taxes - is growing closer by the minute. Each year, Texas homeowners pay a collective total in the millions on their property taxes. Yet, there is a 70%...

15th June 2010

Appealing Your Property Taxes in District Court

If you disagree with the appraisal district's value or any action of the appraisal district about your property, the Texas Property Tax Code (TPTC) provides several options to appeal your property taxes. Most appraisal district offices will meet with you ...

10th May 2010

Use the Appraisal District's Information to Reduce Your Property Taxes

information many homeowners use to successfully reduce their property taxes. Obtaining a House Bill 201 package when appealing your property taxes can greatly increase your chances for a successful appeal. House Bill 201 is the term used by property ta...

24th March 2010

New Home Construction Affects Home Tax Values

Most people see new home construction in their neighborhood as a good thing. New homes typically help increase the market value of properties, so when someone in an older home goes to sell, they often can ask a higher price than areas without new construc...

26th January 2010

Cost Segregation - Tax Deductions (The wisdom of tax planning)

By understanding business tax deductions, business owners may enjoy personal benefits from business expenditures - a nice car to drive, a combination business trip/vacation, retirement savings plan - if they follow the myriad tax rules. The tax code al...

12th November 2009

Cost Segregation - Tax Deductions (Taxes are your enemy, but tax deductions are your friends)

Taxes are your enemy, but tax deductions are your friends. Taxes are the great bane of most businesses. Alas, business deductions act as a salve to cool the burning and itching of your bank account. Business taxes can be summarized simply as calculati...

21st October 2009

Tips & Tricks for Appealing Property Taxes

Although 75% of property tax appeals are successful and save homeowners an average of $450, only 7% of homeowners appeal annually. Research indicates five primary reasons homeowners do not appeal: The process seems overwhelming and they do not know ho...

12th October 2009

Appeal Your Property Taxes on Market Value and Unequal Appraisal

The first step to annually appealing your property taxes is to send a written notice to the appraisal review board (ARB) for the county in which your home is located. Even if you have not received a notice of assessed value from the appraisal district, fi...

30th August 2009

Arcane Income Tax Tip

Sam sold 2 commercial properties in June 2008 and was discussing tax planning with his CPA and cost segregation provider. The sales price for the properties was $5.2 million and $3.3 million. Sam had owned both properties for about 8 years. The cost se...

20th August 2009

Disabled Veteran Tax Exemptions in Texas

In Texas a disabled veteran's tax exemption is not the same as a disabled person's tax exemption. To receive a disabled veteran tax exemption, you must be either a veteran who was disabled while serving with the U.S. armed forces or the surviving spou...

10th August 2009

Appealing Your Property Taxes in District Court

If you disagree with the appraisal district's value or any action of the appraisal district about your property, the Texas Property Tax Code (TPTC) provides several options to appeal your property taxes. Most appraisal district offices will meet with you ...

23rd July 2009

Property Tax Myth: It's not worth the trouble to appeal.

Time spent protesting your property taxes can be very profitable to you. In fact, the average property tax savings for homeowners is $450. However, the uncertainty of how the process works and what results are achievable intimidates many into not attempti...