LODGING LEADERS
028 | 6-Figure Income Tax Savings through Cost Segregation with Todd Strumpfer
LODGING LEADERS
Todd has been a regional director for Cost Segregation Services, Inc. (CSSI) since 2009, and he works with clients nationwide to bring them the tax-saving and cash flow producing benefits of Cost Segregation. CSSI has been in business since 2001 and has completed over 15,000 Cost Segregation Studies in all 50 states.
On a top level, companies like CSSI perform a cost segregation study to identify and reclassify personal property assets. The goal is to shorten the depreciation time for taxation purposes, which reduces the hotel’s current income tax obligations.
The cool thing is, these guys will give you a free cost segregation analysis so you can make an informed decision before you spend a dime.
In This Episode, Todd Talks About:
- Cost segregation, what it is, the history behind it, and how it applies to the hotel industry.
- Who can benefit from it, from new builds, to acquisitions, to renovations.
- The process, how long it takes, and what level of involvement is required by the owner.
- The common concerns and misconceptions that owners have about it.
- Specific examples of the huge, 6-figure income tax savings hotels have received, and the relatively minor cost they incurred to realize this benefit.
Resources & Links
LODGING LEADERS
-
329 | Ruff and Ready: ADA gives hotels a short leash when accommodating guests with service animals
Many hotels these days have made room for guests with disabilities. Hotel managers and staff should also know what the Americans with Disabilities Act says about accommodating guests with pets. During the pandemic lockdowns, a lot of people added a pet to their household and now they’re bringing Fido along on vacation. Hotel employees need to know how to cater to both consumers who are pet owners as well as guests who travel with a trained service animal. Episode 329 of Lodging Leaders podcast reports on how the ADA defines a service animal and how a hotel is legally obligated to serve a guest who comes with a dog or any other animal.
-
328 | Curb Appeal: Hotels’ refreshed images designed to attract road trippers
Nearly 48 million Americans plan to travel over the Fourth of July weekend, predicts AAA. Most of them will drive and many of them plan to stay in hotels. What makes a travel consumer choose your hotel? Price can be a factor but so can the story the property tells through its online photos and its real-life curb appeal. First impressions of a hotel set the tone for the guest’s entire stay. Its roadside image is more important than ever as the lodging industry this summer hangs its hopes on a comeback driven by domestic travelers. Lodging Leaders podcast explores the importance of a hotel’s curb appeal as hoteliers think of ways to attract travelers seeking safety and assurance as the nation emerges from the coronavirus pandemic.