Enhancing Opportunity Zone Tax Savings with Cost Segregation

The Tax Management Real Estate Journal, by Bloomberg Tax, recently published the following article titled “Maximizing Tax Benefits with Opportunity Zones and Cost Segregation.” This article, coauthored by Alex Bagne, the president of ICS Tax, LLC and a past president of the American Society of Cost Segregation Professionals, discusses the interplay of these two valuable tax strategies.

Opportunity Zones encourage long-term investments in low-income neighborhoods through private investment by offering tax deferrals on capital gains, basis step-ups, and potentially permanent exclusions from taxable income. Cost Segregation accelerates the timing of tax deductions, which provides immediate tax savings and improves cash flow. When combined, these two tax planning ideas can tremendously increase investment profitability. ICS collaborates with taxpayers and their tax professionals to identify credits and incentives that reduce tax liabilities and increase profitability. We provide nationwide services with offices located throughout the country. » Learn more about Cost Segregation and request an assessment

About the Author: Alexander Bagne, JD, CPA, MBA, CCSP is the President of ICS Tax. His expertise includes fixed asset reviews, cost segregation, the 179D and 45L energy efficiency incentives, accounting methods, research tax credits, and IC-DISC export incentives. His specialized planning ideas has saved his clients millions in tax dollars. He has given Continuing Professional Education on a variety of tax planning ideas throughout the country. He is published in the AICPA’s Tax Advisor magazine and Accounting Today. » Full Bio