About Flanagan / Bilton
Sourced by ZipRecruiter
Full-time
Medical, Dental, Vision, Retirement
Posted 28 days ago
Job description
Salary: Starting at 80,000
Job Summary
We are seeking a Cost Segregation Specialist to join our dynamic team. The ideal candidate will have deep expertise in cost segregation studies, building component analysis, and federal tax regulations, with the ability to translate complex engineering and financial data into actionable tax planning strategies. This role supports the firms objective to identify accelerated depreciation opportunities for clients, enhancing cash flow and compliance.
Key Responsibilities
Conduct cost segregation studies on commercial, industrial, and multi-family properties for federal and state tax reporting purposes.
Analyze architectural drawings, construction invoices, and cost records to segregate assets into appropriate tax categories (personal property, land improvements, and building components).
Apply Internal Revenue Service (IRS) guidelines and industry standards to ensure defensible results.
Develop detailed reports documenting methodology, calculations, asset classifications, and supporting evidence for tax purposes.
Collaborate with attorneys, CPAs, and real estate professionals to provide strategic recommendations that maximize tax benefits.
Assist in property tax planning initiatives and respond to IRS inquiries or audits related to cost segregation studies.
Stay current on tax law changes, IRS rulings, and valuation techniques impacting real estate depreciation strategies.
Qualifications
Bachelors degree in Accounting, Finance, Engineering, Construction Management, or related field; Masters or CPA designation is preferred.
Minimum 35 years of experience performing or consulting on cost segregation studies.
Strong understanding of real estate taxation, depreciation methods, and IRS Publication 946 and Revenue Rulings.
Proficiency with cost segregation software and Microsoft Excel; experience with architectural and engineering plans.
Excellent analytical, problem-solving, and attention-to-detail skills.
Strong written and verbal communication skills, with the ability to present complex technical information to clients and team members.
Preferred Skills
Experience in commercial real estate, multi-family developments, or industrial property projects.
Knowledge of property tax law and law firm operations.
Demonstrated ability to manage multiple projects simultaneously and meet tight deadlines.
Benefits
Competitive salary and performance-based bonuses
Health, dental, and vision insurance
Retirement savings plan with employer 3% contribution
Professional development and continuing education opportunities
Collaborative and supportive team environment
Frequently asked questions
Q: What skills or qualities help someone succeed as a Cost Specialist?
A: To succeed as a Cost Specialist, key technical skills include proficiency in financial analysis software, such as Excel, and knowledge of cost accounting principles, including budgeting, forecasting, and variance analysis. Soft skills like strong communication, problem-solving, and analytical abilities are also crucial, as Cost Specialists must effectively collaborate with stakeholders, identify areas for cost reduction, and present findings to inform business decisions. By combining these technical and soft skills, a Cost Specialist can drive cost savings, optimize resource allocation, and contribute to the overall financial health of an organization, supporting career growth and effectiveness in the role.
Q: What is the career path for a Cost Specialist?
A: A Cost Specialist's typical career progression involves starting as a Cost Analyst or Junior Cost Specialist, where they analyze and report on financial data to inform business decisions. As they gain experience, they can move into mid-level roles such as Cost Manager or Senior Cost Analyst, where they oversee cost estimation, budgeting, and forecasting. Ultimately, senior Cost Specialists can advance to leadership positions like Director of Cost Management or Chief Financial Officer, where they drive strategic financial planning and decision-making.\n\nKey opportunities for skill development and professional growth in this role include learning financial modeling, data analysis, and business acumen, as well as developing strong communication and project management skills. Additionally, Cost Specialists can expand their expertise by pursuing certifications like the Certified Cost Professional (CCP) or Certified Management Accountant (CMA) designations.\n\nLong-term career prospects for Cost Specialists may lead to roles in financial planning, management consulting, or executive leadership, or they may choose to transition into related fields like accounting, finance, or business development.
