30 Best CEOs of the Year 2020 30 Best CEOs of the Year 2020 | Page 16

‘Where Engineering and Accounting Come Together’: Engineered Tax Services,
a Florida-based Firm, Specializes in the Preservation of Wealth and United
States’ Job Creation through IRS Engineering-Based Services
“We work to uncover potential tax savings and increase cash flow through reclassification and depreciation of property.”
“Our unique business model of
engineers working collaboratively
with accountants and attorneys
aligns true subject matter experts
with proven methodologies that are
pragmatic and sustainable with IRS
and multi-state examinations.”
Julio P. Gonzalez, Founder & CEO
A
ccording to the second
law of thermodynamics,
a natural process always
progresses to entropy or chaos. For
the sake of argument, let’s look at
the increasingly complex U.S. tax
code.
Even with laws aimed to simplify
the system, such as the Tax Cuts
and Jobs Act (TCJA), simplification
in one area — such as the standard
deduction — often causes
complications in other areas.
Since passage of the TCJA, the
IRS (Internal Revenue Service)
has issued multiple regulations
and clarifications on everything
from opportunity zones to bonus
depreciation to new restrictions on
business interest deductibility.
In light of the foregoing, we’re
thrilled to present Engineered Tax
Services, Inc. (ETS).
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ETS provides professional
services. The company offers
specialty tax, cost segregation,
credit certification, repair and
maintenance tax studies, energy
star certification, and construction
tax planning services. ETS has
26 offices nationally and is
headquartered in West Palm Beach,
Florida.
Engineered Tax
Services, Inc. : Synopsis
Why was the company
set up? And how did you
expand your company and
its offerings over the years?
Engineered Tax Services, Inc. (ETS)
was founded by Julio Gonzalez to
bring specialty tax engineering
services to mainstream America.
There are several federal tax
incentives in which the IRS
requires professional engineers
and scientists to determine the
tax benefits in the areas of real
estate and manufacturing. Specific
to real estate is the ability to
depreciate real estate investments
by components vs. the traditional
expensing of real estate over a 39
or 27.5-year period. A forensic
engineering study of a real estate
property, in which the building
is depreciated component by
component, allows investors to
expense up to 50 percent (and in
some cases, more because of 100
percent bonus depreciation) of the
purchase of their building up front.
Decades ago, cost segregation
was only available to real estate
investors who worked with the
Big four accounting firms which
had dedicated engineering staff.
Mr. Gonzalez’s goal was to be a
resource to the CPA community
so that these services could
be available to all real estate
investors, big or small. Cost
segregation continues to be one