Grocery Store
This owner saved $1,121,525 in taxes.
The owner of this grocery store had over 100 grocery stores in his portfolio. He would routinely purchase old independent grocery stores and retrofit those stores with modern technology and amenities such as self-checkout and salad bars. He was not aware that he could go back and segregate his stores which were purchased 20 years ago. The deferral on all of the stores he chose to segregate was over $10 million.
Date Aquired:
June 2020
June 2020
Purchase Price(less land):
$10,673,291
$10,673,291
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