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
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342 | Live Long and Prosper: Hospitality industry embraces senior living
Since she was a teenager volunteering at senior-living facilities in Boston, Serena Lipton knew she wanted a career in senior housing. But she had a difficult time finding the college program she believed would educate and prepare her to serve in the senior-living industry. After graduating from Boston University School of Hospitality Administration and working as an analyst for JLL’s Senior Housing Valuation Advisory, Lipton finally found what she was looking for. This fall she enrolled in BU’s Master of Management in Hospitality with a new concentration in senior living. She and other students are on the cusp of what BUSHA believes is a massive shift in how Americans view aging and where opportunities lie for the hospitality industry.
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341 | One Big Happy: Travel survey reveals how hotels can attract families
Rainer Jenss of Nyack, New York, founded the Family Travel Association seven years ago to help parents and caregivers introduce children to the world through travel, whether that’s a yearlong trip around the world that Jenss and his family took or a weekend getaway to a nearby destination. To help the travel industry gauge what parents want when they take their kids on vacation, FTA conducts an annual study. The U.S. Family Travel Survey 2021 reveals the shift in mindset the COVID-19 pandemic has created in families planning a trip over the next 12 months. Hoteliers use can use the information to generate business and boost their strategies to recover and sustain business now and other the coming months.