Maximize tax savings when constructing a new clinic
According to Gary Glassman, CPA, anyone building a veterinary hospital who is looking for ways to save money (i.e. everyone who is building a veterinary hospital) should consider a cost segregation study. A cost segregation study is a process by which an engineering firm componentizes your building into its different elements, says Glass—each with its own depreciation life.
This componentizing means certain parts of your project—like landscaping equipment—can be depreciated over as little as five years (as opposed to the 39 years it takes for the entire building). Watch this video from a recent Veterinary Economics Hospital Design Conference for more details on how a cost segregation study can save you moola.