…and so does excellence in cost segregation.
We all marvel at the incredible feats of Simone Biles and Michael Phelps; both touted as the best in their fields of expertise. What they have accomplished is truly amazing and they are set apart from the rest of their competitors.
At just 19, Simone has proven that she is the rising gymnastics star; winning the individual all-around gymnastics by 2.1 points, a margin wider than the scores from 1980 to 2012 combined. Without question, she is the dominant force in gymnastics today, and more than likely will be for years to come.
At 31, Phelps is the now considered the greatest Olympian in history with more total gold medals (22) than anyone in history, both individual and team – he sets the bar and standard of excellence in his field. Oh yeah, then there’s the 2 silver and bronze for a total of 26 Olympic medals — with the potential of more to come in Rio.
So how does this happen?
Clearly they both have an incredible amount of pure, raw talent. Though it goes well beyond that. To achieve these levels, both Simone and Michael have the drive to practice, train and focus on every single aspect and detail of their routines. When measured in hundredths of a point or second, the minutia of every single aspect matters in separation from the field.
In gymnastics, every move, twist, flip, turn, grab, jump, landing, is analyzed and measured to reach the podium. In swimming it breaks down to the start, entry, stroke, breathing, flip-turn, streamline and touch finish requires near perfection to get the gold. Champions focus on and perfect the smallest of details in their craft to ensure success.
We can cheer, roar and tip our hats to their commitment to excellence. Each one of the details mentioned above (and many, many others) are coached, practiced and honed for hours on end. It takes extremely hard work and dedication to their craft and the drive to be the best in order to reach the pinnacles of their sport. Without question, both Biles and Phelps have achieved the highest pinnacle as demonstrated by their dominance and gold.
So how does this relate to cost segregation?
Much the same way; focusing attention to every single detail. Cost segregation is just one aspect of a tax and cash flow strategy for commercial property owners, and the attention to every single aspect is what sets ELB apart from the hundreds of competitors in the field. Only ELB delivers a “fully engineered and accounted” methodology that literally breaks down every single aspect and building component. ELB goes the extra mile to categorically split items into the appropriate depreciation life, that no other firm either takes the time or has the expertise to do. And when we do, the collective result of identifying every aspect of an asset builds up to achieve the highest level of depreciation allowable by the IRS. This separates ELB from the rest who only deliver ‘engineering based’ reports.
Perhaps other competitors don’t have the engineering expertise, or maybe they just choose the easy routines and components that everyone can identify, and while it will score points, it avoids the difficult and time consuming moves it takes to achieve the highest score and separate from the field.
ELB takes no short-cuts. We deliver the most detailed and comprehensive three-in-one cost segregation report in our field. If medals were handed out in cost segregation, ELB would clearly take the gold.
As witnessed in Olympic competition, regardless of the sport – the attention to every single detail makes the difference in standing on the podium, or watching that others that do.
The USA has fielded an incredible team of athletes across the board for the 2016 Rio Olympics. Many of whom have already taken gold, silver or bronze medals. We admire and respect their commitment to their craft and country. Let us continue to cheer and roar for our entire team as we continue to compete against the best athletes every country has fielded. GO USA!
Phelps photo credit: Getty Images, Adam Pretty
Biles photo credit: Getty images, Elsa