Your Trusted Tax Advisory Partner
Real Tax Advisers
Phone: 216-772-7931
If you acquired a rental property within the past ten years you could receive a huge refunded from under-reported depreciation.
REALTAX SAVER – the must-have program for small and mid-sized residential real estate investors. It maximizes depreciation deductions, cuts Federal and State income taxes, and boosts cash flow. Achieve impressive savings and elevate your investment potential!
What Does REALTAX SAVER Do?
REALTAX SAVER enhances the depreciation deductions related to residential real estate transactions by separating short-lived personal property components and land improvements from the land and buildings. Although the option to segregate these short-lived components has existed for decades, the cost and benefits of conducting this analysis have historically made it impractical.
A before and after view of the acquisition of a $250,000 rental property would show:
REALTAX SAVER, in the above example, increases first year depreciation deductions by over $14,000. When applying the median combined Federal and State marginal tax rates of about 30%, an actual tax reduction of approximately $4,200 is realized.
What Properties Quality?
Any type of property that experiences a change in its depreciable basis is subject to specific tax regulations. This includes properties that have been purchased outright, as well as those acquired through inheritance, gifts, or through exchanges of other properties.
When such changes occur, it is important to understand how they affect the property's depreciation schedule. According to the Internal Revenue Service (IRS) Audit Technique Guidelines, taxpayers are allowed to adjust for depreciation that was not taken in previous tax years. This process is commonly referred to as "catch-up" depreciation. Importantly, taxpayers can make this adjustment without the necessity of filing amended returns for prior years, simplifying the process of correcting overlooked depreciation deductions. This provision ensures that property owners can maximize their deductions and adhere to IRS regulations without facing additional paperwork burdens.
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Single Family Residential
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Duplex
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Triplex
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Small Apartment Buildings (4 or fewer Units)
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Short-term Vacation Rentals
How Much Does It Cost?
Fees are based on the property's depreciable value (acquisition cost minus land value). Discounts are available for multiple properties. Contact us for details.
Depreciable Amount
Single Family
Less than $250,000
$ 595
Multi-Tenant per Unit
$495
$250,001 - $1,000,000
$795
$695
Greater Than $1,000,000
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See Your Estimated Benefits
Give us the details of your property, and we'll generate a free, no-obligation estimated savings report tailored just you!
