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RE-1 Real Estate Cost Recovery
Upon completion of new construction or capital projects, clients are forced to identify and segregate building components in order to take advantage of accelerating depreciation (5 - 25 years) for significant financial gains via the Internal Revenue Code (IRC) Modified Accelerated Cost Recovery Systems (MACRS). In most cases clients simply depreciate new construction over 39-year straight-line depreciation method because they either are not aware of MACRS or it is too difficult a process to breakout building elements. The financial advantages of MACRS directly affect the corporate bottom line.
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| Extract appropriate data that define relevant information about building components from the IFC based building information model (BIM) of the particular building and import them, including automated classification, into clients? Financial application(s). | ||||||||||||||||||||||||||||||||||||
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