Cost segregation is a tax strategy that identifies property components of commercial buildings that qualify for accelerated depreciation timelines under 5, 7, 15, or 20 years rather than the standard 39 years. An engineering-based cost segregation study provides the most accurate cost allocation analysis and tax benefits, potentially increasing cash flow and reducing taxes by tens or hundreds of thousands of dollars depending on the property value. Property owners of all commercial property types from $750,000 upwards can benefit from a cost segregation study any time after a property is placed in service, and can claim tax deductions on previous years' undervalued depreciation dating back to 1987.