SOURCE: NWP Services Corporation

NWP Services Corporation

April 15, 2011 13:18 ET

NWP Services Corporation's Customers Can Achieve Significant Cash Flow Improvements With New Advisory Services Focused on Tax

Reductions in Operating Expense and Increases in Asset Value Can Be Quickly Realized From New Cost Segregation Tax Studies

IRVINE, CA--(Marketwire - Apr 15, 2011) - NWP Services Corporation (NWP), a leading provider of financial transaction processing solutions for the multifamily housing industry, announced today an agreement with Scarpello Consulting to bring Cost Segregation Tax Studies to owners and operators of multifamily housing communities. Now, owners and operators of multifamily housing communities and commercial real estate properties can take advantage of Cost Segregation Tax Studies which improve cash flow and the bottom-line.

"Cost Segregation is an engineering-based approach to identifying assets within a multifamily, student housing or commercial real estate property that can be reclassified into a much shorter depreciation recovery period than the building itself," said Jim Charles, senior vice president of product management and engineering for NWP.

Working with the tax specialists at Scarpello, customers can now maximize inherent tax benefits by identifying, classifying and segregating the personal property components and land improvements of the property. "Owners that have built or purchased properties in the past and have not performed a cost segregation study may benefit from a study which could allow for the correction of missed depreciation in past years," Charles added.

"Our cost segregation studies for multifamily property owners have resulted in a significant cash tax savings opportunity," said Mike Shaw, Partner, Scarpello Consulting. "Many of the non-structural components within apartments qualify for accelerated depreciation deductions which minimize current income tax liability. The proper segregation of costs requires the knowledge of construction costs and techniques as well as the related tax law. Our team has extensive estimating, engineering and construction experience permitting us to identify and quantify items of personal property acceptable to the IRS," added Shaw.

Owners and operators of multifamily, student housing and commercial real estate properties that can answer YES to the following questions should seriously consider a cost segregation to determine if they can reap these valuable tax benefits:

1. Is the cost of your building or community at least $750,000?
2. Have you purchased, constructed or renovated any property since 1987?
3. Do you plan on retaining your property for the next few years?
4. Do you have net income that is being taxed?

Register now to join a free, live 45-minute discussion via online seminar/webinar: "What Every Real Estate CFO Needs to Know: cash tax savings opportunities that deliver" on Wednesday April 27, 2011 at 2pm Eastern to learn about the savings and results that can be achieved from Cost Segregation Tax Studies and ask the experts your questions. Click here to register now.

To learn more or schedule your cost segregation analysis, please call 800.323.3178 or email multifamily@nwpsc.com.

About Scarpello Consulting:
Headquartered in Omaha, NE with offices in New York and Los Angeles, Scarpello Consulting provides cost segregation studies for company and investor owned real estate nationally. Scarpello's core group, formally with PricewaterCoopers, LLP, has the engineering and accounting experience necessary to provide real estate investors and their CPA's the highest quality turnkey deliverable. For more information please visit our web site at www.scarpelloconsulting.com

About NWP Services Corporation:
Headquartered in Irvine, California, NWP Services Corporation (NWP) provides financial transaction processing services for the multifamily industry including resident billing, resident payment and utility management. Resident billing helps owners recover utility expenses with options including convergent billing with Resident OneBill. NWP's Resident ePay service allows residents to pay rent and other charges online or in person with funds transferred to the bank electronically. NWP's utility management product, UtilitySmart, helps owners and operators optimize utility spend, increasing in Funds from Operations (FFO), Net Operating Income (NOI) and the asset value of multifamily properties. Additional information is available at www.nwpsc.com.

Contact Information

  • Contact for NWP Services Corporation:
    David Collins
    949-253-2589
    Email Contact