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Case Studies
MAJOR REAL ESTATE DEVELOPER: SCOTTSDALE, ARIZNONA
A successful real estate developer and business owner was looking for strategic tax strategies above and beyond what his cpa could provide. After the initial consultation with the client and his cpa, CORE was engaged to do a cost segregation on a large retail mall, two senior living facilities and one office building.
After the studies were complete the cash benefit reached over $2,800,000. Needless to say, that client recommended us to several other investors in the area.
Type: High End retail Mall Development - New Construction
Cost: $40,000,000
Five Year Cash Benefit: $4,567,348
DUROLAST ROOFING:
LARGE ROOFING MANUFACTURER LOCATED IN OSCODA, MI
A large Michigan manufacturer of roofing products engaged CORE Solutions Group in 2007 to perform an R&D Study. This resulted in a cash refund of over $980,000. They then hired to do a two cost segregation studies on their facilities. That resulted in an additional $320,000 in cash flow benefits.
Immediate Cash Flow Benefits: $1,300,000
Local auto dealership was referred to us by their cpa firm in the summer of 2006. We conducted a cost seg study on their newly aquired volkswagen dealership.
Purchase Price: $1,500,000
Date of Service: 8/06
Five Year Cash Benefit: $157,000
BANK OF BIRMINGHAM
BANK OPERATION LOCATED IN BIRMINGHAM, MI
A new bank operation decided to build out their first Michigan branch. They were looking for a way to improve their ROI and cash flow position. Their lending company referred CORE to help achieve this. CORE was hired in July of 2008 to perform an engineering based - cost segregation study on their $2.2 million build out.
CORE was able to generate a cash flow benefit of over $184,000. CORE now works with Bank of Birmingham each time a new facility opens.
Type: Bank Branches
Renovation of current building on long term lease
Construction / Build out: $2,600,000
Five Year Cash Beneift: $184,000
LA Z BOY FURNITURE LOCATED IN MONROE, MI
CORE was hired in July of 2008 to help improve their cash flow and reduce their taxable income. After performing our free assessment, we determined they would immediately qualify for two specialized tax incentive programs. After reviewing the company’s depreciation schedules on their commercial property holdings, we recommended doing a cost segregation study. By doing so, CORE was able to recover a significant 5 year cash benefit. We also were able to secure a R&D Tax Credit that offered a carry forward benefit for years to come.
MANUFACTURING FACILITY LOCATED IN KENTUCKY:
A large manufacturer hired CORE to perform and R&D Tax Study as well as a Comprehensive Energy Study. The results were significant. CORE was able to secure a refund relating to their manufacturing activities as well as save them over a million dollars in energy efficiency recommendations. We also were instrumental in helping them apply and receive an energy grant through the state of Kentucky.
Annual Energy Spend: (gas, water & electricity) $3,000,000
Energy Efficiency Savings: $1,100,000
CORE helped them secure a $200,000 energy grant
R&D Tax Credit: $140,000
Net Cash Flow Benefits: $1,440,000
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