* for Single Units over
4000 square feet, please call for pricing
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- Contact Chattel Professionals to
discuss your investment properties
and tax strategy.
- Complete a Request
for Report
and fax us a signed copy. We need
the following information to get started:
- Owner name
- Address of property
- Property purchase date
- Property cost
- Property value
- Land value – we can’t
use estimates. (If you can’t
get this figure from the property
appraisal, you can ask your CPA,
mortgage broker, sales agent, or
obtain it from online county appraisal
records.)
- Was the property acquired through
a 1031 exchange?
- When we receive your Request for
Report, we will contact you and/or
your property management to schedule
the walk-through.
- We send you a complete chattel
valuation report, including a CD with
digital photos of your property and
appliance model and serial numbers.
- Give your report to your CPA, and
start saving on your taxes!
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Our practical service allows clients to
recapture their investment in the first
year. Each person's tax situation is different
but here is a simple example:
- An average residential unit of
1,500 square feet has an average of
$15,000 in chattel.
- If you are in a 35% tax bracket,
you have a net tax savings of $1,050
in the first year. Total net tax savings
from years one through six is $5,250.
- If you subtract $795 for the chattel
report cost, then your net savings
is $4,455. For the investment of $795
for the cost of the chattel report,
this equates to a return on investment
of 560%.
- Remember, not only is the cost of
the report tax deductible, but this
also does not take additional state
tax savings into account. Please consult
your tax professional for your particular
state.
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- Two copies of a detailed cost segregation
study
- Photos of all chattel on a CD
- Documentation of all model and serial
numbers
- Instructions for working with your
accountant to maximize your deductions
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