Send
The schedules and returns
Your fixed asset and depreciation schedules, prior returns, and the closing statements for the properties on them, through a secure upload.
Fixed Asset & Depreciation Schedule Reviews
Most commercial depreciation schedules carry the same few errors for years: a building on one line, improvements in the wrong life, retired components still depreciating. A review finds them, and we coordinate the fixes with your CPA.
The same few errors, carried for years
Most commercial schedules were built at closing, by someone without the engineering detail, and then left alone. A review reads them against what the property actually contains.
Common findings and their fixesWhat a review looks for
| Finding | What it costs | The fix |
|---|---|---|
| Building carried as a single line | Short-life components stuck in a 27.5- or 39-year life | Look-back study with Form 3115 |
| Acquisition never studied | Missed acceleration from the year it was placed in service | Look-back study with Form 3115 |
| Improvements in the wrong life | Qualified improvement property left at 39 years | Reclassification, coordinated with your CPA |
| Retired components still on the schedule | Basis depreciating for assets that no longer exist | Partial disposition analysis |
| Land not separated | Depreciation calculated on basis that includes land | Correction your CPA chooses |
How each fix goes on the return is your CPA's decision. We provide the engineering and the supporting detail.
Coordinated with your CPA from the start
Review
Read against the property
We identify where a study, a look-back or a disposition would change the result, property by property.
Coordinate
Fixes, with your CPA
Each finding is matched to its fix and worked through with your CPA, who decides how it goes on the return.
Schedule review questions
Still have a question? Ask Engineering.
What do you look for?
Buildings carried as a single line, land not separated, improvements placed in the wrong recovery period, qualified improvement property missed, retired components still on the schedule, and acquisitions that never had a study.
What happens if you find errors?
Each finding is matched to its fix: a look-back study with Form 3115, a partial disposition election, or a correction your CPA chooses. Your CPA decides how it goes on the return.
Do you work with our CPA?
Yes. Reviews are coordinated with the client's CPA from the start.
Is a review the same as a study?
No. A review reads the schedules you have and identifies where a study, a look-back or a disposition would change the result. The study is the engineering that follows.
Get a Commercial Savings Estimate
Fixed-fee proposal in 24 to 48 hours.
- Prepared by Engineering
- Lifetime audit defense
- NDAs available
info@senecacostseg.com
1210 Jackson St SE, Suite 2, Albany, OR 97322
Request your estimate
Estimates are prepared by our Engineering team.
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Engineering will review the property and send your written estimate and proposal within 24 to 48 hours.
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