Facility Expense Management Services
One of the greatest expenses a business deals with every year is the cost, operation and management of their facility. We have a team of specialists that focus on three distinct areas of facility management.
Office Lease
ARE LOSING MONEY" The Chicago Tribune
"80% of all commercial tenants are overcharged by their landlords"
Office Lease Auditing Services
Who needs an office lease audit?
Every business that occupies a facility should seek out a professional company that can provide a full service office lease audit. It is always prudent to get an experienced review of your expenses.
What is an Office Lease Audit?
A lease audit is a systematic procedure where a facility, documents associated with the lease, invoices and other correspondence as well as other data is evaluated for accuracy to determine whether fees and payments assessed by the landlord under the lease have been appropriate.
Business and Commercial tenants are most often contractually obligated to share in the expenses of the operations of the facility they lease. Leases are complex and have become more complex over time; it is very common for landlords and management companies to both mistakenly and erroneously calculate lease expenses. Unfortunately, it is always in favor of the landlord. It is also almost impossible for the tenant to identify those errors and save themselves from overpaying. Even if the tenant could identify them it becomes too burdensome to do on a continual basis while they maintain their ongoing business obligation, that's where we come in.
For almost two decades AmCorp Management, Inc. has been serving businesses and recovering overpayments. We have helped businesses of every size recover over $700,000,000. Our experts know how to uncover those hidden areas that benefit the landlord and recover your hard earned money. Here are only a few of the most prominent areas that clients may be losing money:
-Inappropriate measurement of your square footage
-Common Area Maintenance charges
-Construction costs
-Management fees
-Operating expense charges
-Real Estate Taxes
-Utility usage
Our Methodology
AmCorp Management provides our clients with a no-risk expense analysis of their office lease payments and expenditures. We offer this service on a risk free performance basis. If we do not provide our clients with financial recoveries or rewards there is absolutely no fee. Above all, we respect the delicate tenant-landlord relationship and ensure fair and honest practices in dealing with your lease negotiations. With an uncompromising process we are true advocates of your rights as a tenant.
Cost Segregation
The New York Times
"By ignoring generous IRS guidelines when establishing depreciation
Schedules, 90% of real estate investors are unintentionally overpaying taxes."
Cost Segregation Services
Cost Segregation is the process of identifying personal property assets that are grouped with real property assets, and separating out personal assets for tax reporting purposes. A cost segregation study identifies and reclassifies personal property assets to shorten the depreciation time for taxation purposes, which increases annual deductions and reduces current income tax obligations. Personal property assets include a building's non-structural elements, exterior land improvements and indirect construction costs.
The IRS Cost Segregation guidelines require a detailed engineering study and analysis to fully qualify for all the available cost segregation tax advantages and benefits. MACRS The Modified
Accelerated Cost Recovery System (MACRS) is the current method of accelerated asset depreciation required by the United States income tax code. Under MACRS, all assets are divided into classes which dictate the number of years over which an asset's cost will be recovered.
The engineering study and analysis of capital expenditures is used to determine appropriate asset classifications. Cost segregation identifies building costs that would typically be depreciated over a 27.5 or 39-year period and reclassifies them to permit a shorter, accelerated method of depreciation for certain building costs. Costs for non-structural elements, such as wall covering, carpet, accent lighting, portions of the electrical system, and exterior site improvements such as sidewalks and landscaping, can often be depreciated over five, seven or fifteen years, rather than over 27.5 or 39 years.
The average property can segregate between 20 and 30% of their property value, which can have a dramatic impact on their operating capital.
Property Tax
Money Magazine
"The slightest error can cause a dramatic difference in your property assessment and can go for years without getting caught. The onus is placed on the property owner to ensure the correct assessment is made. Every property should be evaluated at least every 3 years."
PROPERTY TAX AUDITING
AmCorp's Property Tax Audit service provides you with experienced personal property tax professionals to manage all aspects of your personal property tax audit. We work directly with the taxing authority as your partner. Our goal is to provide you with an alternative solution to managing the audit in-house, which can be a daunting task for overburdened tax departments.
AmCorp's Property Tax audit identifies and recovers revenue lost by way of government tax payment over billing on real and personal property. This is done by carefully analyzing previous tax year's filings, records and payments and identifying tax saving opportunities that we have developed through years of serving clients. Real and personal property tax overpayments can usually be recovered for up to three years back when we can identify and apply assessment issues and/or valuation errors.
Our experts thoroughly analyze your property tax bills where they review the accuracy of the current and past data. They seek to identify both assessor and taxpayer errors, missed assumption and alternative valuation approaches. They provide the client with a detailed report highlighting potential opportunities for tax reductions and verify the legitimacy of the additions, exclusions or changes and gather documentation for support. Once the client approves the information our expert will then submit the claim with the taxing authority and monitor the process until the client has secured their tax refund, credit and/or savings.
Our process ensures only legitimate refunds are pursued. And, it ensures the client receives the most beneficial education to avoid future overpayments.
