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There’s never a bad time to consider ways to minimize your business taxes. So consider a cost segregation review. Miller & Company, LLP, one of the best cost segregation CPA firms in New York City, Florida and Washington, DC, offers a CPA for cost segregation to find the best way for your business to take advantage of the 2025 congressional bill that rolled back depreciation limits and opened the door for exceptional real estate tax breaks. Call today to find out if you can benefit.
Cost segregation accounting, an engineering-based tax analysis, is a powerful tax minimization strategy. It breaks down a property into its individual components, reclassifying each to achieve shorter depreciation periods. This strategy leads to larger tax deductions in the early years of property ownership, a boon for businesses.
A CPA for cost segregation shows you how to shift 20 to 40 percent of a property’s total value into faster-depreciation categories. For example, on a $1,000,000 property, instead of taking a $25,641 deduction per year, you may deduct $150,000 or more in a single year. For real estate investors, property owners and businesses pursuing a broader business tax strategy, this is an underutilized approach. But while the federal government allows you to deduct components 100 percent in one year, New York State does not follow this rule.
To navigate these two different sets of rules, you need an expert cost segregation CPA who understands New York’s specific tax framework. Founded by Paul Miller, CPA, Miller & Company, LLP is one of the best cost segregation CPA firms in New York. They have offices in:
Any business or individual owning income-producing real estate with a depreciable basis of $500,000 or more is a strong candidate for cost segregation accounting analysis. Your property qualifies for a cost segregation if the property contains personal property components, such as:
If the property is currently being depreciated over 27.5 or 39 years, it may qualify for cost segregation accounting services. Beyond the type of property, the building’s composition plays a significant role as well. Property types that qualify cover almost every category of income-producing real estate, including:
Properties with high concentrations of personal property components deliver strong results from a cost segregation analysis. For business owners whose property is part of a broader business tax preparation and compliance structure, the evaluation is built directly into Miller & Company’s overall tax-planning process.
“Our cost segregation CPA evaluates each property before recommending strategies,” says Miller, “ensuring that projected tax savings outweigh the cost of the analysis.”
A common misconception is that you must have performed a cost segregation analysis in the same year that you acquired the property. The IRS allows you as the property owner to conduct a look-back study on any property that’s been in service since 1987. Cost segregation accounting can capture every year of missed accelerated depreciation in a single-year deduction.
Property owners who’ve completed a 1031 exchange on a replacement property without commissioning a study at the time of acquisition represent a common look-back opportunity for CPA to conduct a cost segregation analysis.
Miller adds: “It’s common for cost segregation CPA firms to work with clients who’ve owned income-producing real estate for years, but never knew that they had the option of doing a look-back study.”
Signed into law on July 4, 2025, the One Big Beautiful Bill Act (OBBBA) permanently restored 100 percent of bonus depreciation for qualifying assets acquired and placed in service after January 19, 2025. It reverses a phase-down that had reduced the bonus depreciation rate to just 40 percent earlier in that year. It was scheduled to reach zero by 2027.
The OBBBA immediately increased the value of every cost segregation analysis commissioned today, and often more than doubles the benefit for the same property. That difference translates into an improved cash flow, reduced tax liability and capital freed for reinvestment.
This legislative change connects to capital gains tax planning, as the depreciation deductions you claim today affect how much tax you owe when you sell the property. “The window to maximize all these benefits through a cost segregation CPA is open for you right now,” says Miller. “For clients who act before their next acquisition or major renovation by connecting with a CPA for cost segregation, the first-year tax savings can be extraordinary.”
Paul Miller has been a certified public accountant since 1992, starting Miller & Company, LLP in 1997. More than three decades of specialized tax experience makes the practice one of the top cost segregation CPA firms on the Eastern Seaboard. Their commitment is to evaluate each property separately. A CPA for cost segregation ensures that each analysis is fully compliant with both federal and New York State tax frameworks.
If you’re ready to accelerate your depreciation deductions and reduce your tax burdens, your choice of a cost segregation CPA firm plays a major role. Schedule a cost segregation accounting analysis consultation today at Miller & Company, LLP. Contact us today. Let them handle your financial concerns, including potentially lucrative cost segregation accounting.
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