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For Doctors and Medical Professionals, Time IS Money!

Asdoctors and those with specialties in the medical profession, you make more money based on the number of patients you see.  The less time spent on paperwork and other non-patient facing activities, the more revenue you generate.  Your time at an appointment or at the hospital during a full process for surgery is premium and kept to a minimum.  For you…time IS money.

Well, from a business lens, time is also money.  If you haven’t taken advantage of a cost segregation benefit for your practice, you’re leaving premium dollars on the table.  Cost segregation is a tax incentive based on accelerated depreciation.  It “speeds up” the time or depreciates eligible fixed assets in such a way that the amount of depreciation taken each year is higher in earlier years of those assets’ life.

On average medical offices qualify for $200K+ in savings.  Qualified facilities include individual practices to large hospitals and can be applicable if the building is owned or leased.  Leasehold improvements, or enhancements paid for by the tenant to the leased space qualify for cost segregation assessment.   Examples include significant cabinetry, countertops, walls, electrical and plumbing that supports medical and office equipment, data communication systems, etc.

For locations that have been in existence a few years, there is a catch up benefit letting you realize the previous deductions you could have had into the current return.  There is no need to amend previous tax returns.  The money you save in taxes can be re-invested into the practice.

Contact us for a free, quick 10 min consult to find out your potential savings!


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