Cost Segregation Study Leads to $100,000 in Tax Savings
Nearly two decades ago Colectivo Coffee began searching for a new accounting firm. An essential requirement for the owners of Colectivo Coffee was to have a close-knit relationship with their accountant. Their search led them to SVA Certified Public Accountants. And now over 20 years later, the relationship, like Colectivo Coffee’s business, is thriving!
“SVA takes our business personally and has our best interest first and foremost,” stated Lincoln Fowler, one of Colectivo Coffee’s founders.
Colectivo Coffee relies on SVA to provide the necessary expertise to grow and manage their business. “We hire professionals who bring knowledge to the table that we don’t have,” said Fowler. “SVA continuously delivers a well-informed, objective perspective we value which makes us continuously evaluate our path.”
SVA demonstrated this knowledge when they recommended a cost segregation study be performed on Colectivo Coffee’s new Humboldt manufacturing facility. SVA brought value with minimal costs to perform the study which resulted in over $100,000 in tax savings
for the organization.
Colectivo Coffee was able to expand their market share with the assistance of SVA. The then named Alterra Coffee was approached by the Mars Corporation drink division who planned to expand their coffee line. An agreement was reached to sell their Alterra brand and share their coffee expertise with the Mars Corporation. SVA brought to the transaction a level of knowledge and detail on how to structure the deal. The strategy introduced by SVA provided additional cash proceeds for the newly renamed Colectivo Coffee.
"That is why we have professionals who bring knowledge we do not have. SVA consistently executes their expertise at critical turns in our business,” stated Fowler.