The conference is a true educational experience and attendees earn valuable continuing education points. Our conference at the Westin Las Vegas will run 2 days [October 26 & 27th] and has 6-8 break out sessions with the industry’s top people presenting on cost segregation related topics. The profession is not one that is widely known, so let me give you a quick over view. If you do a search on Linked in under the subject line “Cost Segregation” you’ll find nearly 23,000 profiles come up. Cost segregation professionals come from two difference arenas, one is accounting/tax and the other is construction engineering. It would be very rare to find one person with both skills so the work is done in collaborations.
Here is a summary:
- Since the 1980’s the IRS has allowed private property owners the opportunity to depreciate their assets at an accelerated rate if a cost segregation study is done and a report is submitted.
- This frees up a huge amount of capital which allows the property owner the opportunity to reinvest it back in the facility.
- To segregate the facility into separate depreciation levels (5, 17, 39 years) a take off is done of the blueprints just as a construction estimator would do.
- The primary difference being that the construction estimator is working on a building that has not gone up yet.
- Once all the items are counted a unit price is assigned using a construction database, which by default ends up being RS Means 90% of the time.
- Cost segregation engineers are PAINED to find quicker ways to do accurate take offs and unit pricing, so great software they will pay for.
Our educational programs help the engineers learning more about how the tax side of things work and the tax guys get to better understand how an estimate is done. We generally have around 80 or so of the top industry professionals in attendance and the best news is that nearly all would be considered “decision makers”. This is great but our goal is to also help you reach all ASCSP members and the industry beyond. In affect we want the conference to be the end point of the marketing effort where the results are in before you get on a plane to Vegas.
- We won’t have a trade show or stick an exhibitor in a hallway. The exhibitor is right in the sessions room all day so every attendee has a chance to mingle. We cut away a time slot for the exhibitor staff person to make a presentation so the attendees have a good overview of who they area and why they are with us.
- We start the promotion of our exhibitors immediately after they commit. This includes ads on the website conference pages, newsletter and event pages and in the 5 Linked In groups we run (several thousand professionals). The one exhibitor who has been there the last few years Walker Reid told me last fall that they planned to be back for 2017. I take that to mean they see the time, travel and exhibit fee as worth the investment.
There will be a maximum of 2 or 3 exhibitors at the conference. Please find our prospectus for exhibitors attached. We are not filling a trade show so it is fairly cut and dry. Exhibitors are considered registered so they can eat with the attendees at no extra charge for the breakfast, coffee and lunch breaks. Though not included exhibitors are more than welcome to book their rooms at the Westin inside our room block for lower rates. Exhibitors can join the attendees for the President’s reception for our cost per person (usually around $75 per).