Accounting firm Friedman, Cohen, Taubman & Co. LLC has hooked up with Engineered Tax Services to provide cost segregation services to clients who own or invest in commercial and residential rental properties.

West Palm Beach, Fla.-based ETS specializes in cost segregation, which allows real property to be reclassified into personal property. The reclassification, which is typically for between 25 to 35 percent of the cost of a building, provides accelerated depreciation. For qualifying properties, cost segregation can also offer tax deferrals and even property insurance deductions.

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