Rotarian Harris Brooks, left, was Wednesday’s meeting program speaker. He is pictured with the club’s President-elect Mike Rankin.
Harris gave an overview of the company he works for, Cost Segregation Services Inc., or CSSI. The company works with for-profit organizations with large real property assets to reduce their IRS tax liabilities through accelerated depreciation and repair regulations studies.
Harris said the company has conducted tens of thousands of surveys for organizations. Depreciations can be scheduled over a term of years, as many as 39 years. Reducing tax liability through depreciations will, in turn, improve an organization’s operational cash flow.
Harris said he is ready to talk to any for-profit organization who would like to discuss accelerated depreciation of real property, or discuss with your CPA how CSSI’s plans work and are an acceptable means of reducing taxes on real property.
Rotary Club of Mineral Wells meets every Wednesday at noon at Southside Church of Christ for lunch, fellowship, updates on club news and projects and a program of interest. For more information, go to www.mineralwellsrotary.org.