The best cost segregation firms in New York for 2027 are Engineered Tax Services, Madison SPECS and KBKG, followed by CohnReznick, Jack Jaffa & Associates and EisnerAmper. Engineered Tax Services leads for its New York office and wide range of New York case studies, Madison SPECS for investors who want a cost segregation specialist next door in New Jersey, and KBKG for owners who want a national firm with a New York team.
This list covers two very different kinds of New York owner. In New York City, studies tend to involve older walk-ups, mixed-use buildings, office properties and conversions, where an engineer’s knowledge of building systems matters. In the Catskills and Hudson Valley, the typical client owns one or two furnished cabins or vacation homes, where speed and price matter more. We note which firms suit which.
Keep one state rule in mind. New York has not followed federal bonus depreciation since 2003, and New York City follows the state. You can still claim 100% bonus depreciation on your federal return, but New York requires its own depreciation schedule on Form IT-398. A good firm and CPA will plan for both. For the basics, read our guide to how cost segregation works.
New York Cost Segregation Firms At A Glance
Firm
Location
Founded
Specialty
Best For
1. Engineered Tax Services
New York, NY office (HQ West Palm Beach, FL)
2001
Licensed engineering firm for specialty tax
NYC commercial and conversion projects
2. Madison SPECS
Lakewood, NJ
2004
Cost segregation only, with in-house engineers
Metro-area multifamily and mixed-use
3. KBKG
New York, NY office (HQ Pasadena, CA)
1999
Cost segregation and tax incentives
Multi-state owners with NYC assets
4. CohnReznick
New York, NY
1919
National accounting firm with a fixed asset team
Large developers and syndicators
5. Jack Jaffa & Associates
New York, NY
1998
NYC real estate consulting with a cost seg department
NYC building owners who want a local consultant
6. EisnerAmper
New York, NY
2010 (merger)
National accounting firm with real estate depth
Owners who want a big-firm CPA
7. O’Connor
Houston, TX (New York office)
Not published
Property tax and cost segregation services
Commercial owners who also appeal taxes
8. Basis Property Group
Philadelphia, PA
Not published
Fixed-price studies for rentals and vacation homes
Catskills and Hudson Valley cabins
9. R.E. Cost Seg
Houston, TX
2022
Investor-focused studies at two depths
Investors who want flexible depth
10. Cost Seg Smart
Los Angeles, CA
Not published
Fast, low-cost remote studies
Budget studies for upstate STRs
How We Evaluated These Firms
We started with firms that have a New York office, are based in the New York metro area, or publish New York case studies. We then looked at engineering depth on older and complex urban buildings, experience with the property types common in the state, and whether the firm can support the separate New York depreciation schedule.
For the Catskills and upstate rental market, we also weighed price transparency, remote options and short-term rental experience. Rankings are editorial. No firm paid for its position.
Engineered Tax Services runs a New York office that offers cost segregation, 179D, 45L and R&D work, with in-person meetings or virtual consultations. Its New York case studies include a 14-story office highrise built in 1958, a commercial building in Great Neck, a business center in Brentwood, an office building in Rochester and a new apartment complex upstate.
The firm has also written about office-to-residential conversions in the city, a growing source of large studies. As a licensed engineering firm, ETS can send an engineer on site, which helps with older Manhattan buildings.
Best for: New York City commercial owners, developers and conversion projects that want an engineering firm with a local office.
2. Madison SPECS — A Cost Segregation Specialist Next Door With Traveling Engineers
Madison SPECS is based in Lakewood, New Jersey, within easy reach of New York City, and works only on cost segregation. Its in-house engineers travel to perform site tours, measuring, photographing and documenting each property before analysts and tax specialists build the report.
The firm has written for the New York Real Estate Journal for years and has handled everything from large office parks to repeat studies for residential developers. It offers a free feasibility analysis before you commit.
Best for: New York multifamily and mixed-use investors who want a specialist with its own engineers close to the city.
3. KBKG — A National Specialist With A New York Team
KBKG has a New York office among its seven US locations, with senior staff who previously worked in fixed asset and cost segregation consulting at large firms in the city. The firm has offered cost segregation since 1999 and is known for depth on depreciation and fixed asset rules.
For smaller rentals, KBKG’s CostSegregation.com platform offers self-guided reports, so a New York investor can use one firm for a Manhattan building and an upstate cabin.
Best for: Owners with New York properties alongside holdings in other states who want one national firm with people in the city.
4. CohnReznick — A New York-Headquartered Firm Built For Large Developers
CohnReznick is headquartered in New York and has one of the largest real estate client bases in the accounting industry. Its fixed asset team includes engineers and tax professionals, among them former IRS attorneys, with construction industry experience.
The firm’s cost segregation practice mainly serves large real estate developers, investors and syndicators, so it is best suited to sizable projects rather than single rentals.
Best for: Large New York developers, funds and syndicators who want a cost segregation team inside a major accounting firm.
5. Jack Jaffa & Associates — A New York City Building Consultant With A Cost Segregation Division
Jack Jaffa & Associates was founded in New York in 1998 and is one of the city’s largest property violation removal firms. It later added a cost segregation department, run alongside Madison SPECS under a shared director of cost segregation operations.
For New York City owners who already deal with the Department of Buildings and compliance work, having cost segregation from a firm that knows city buildings can make the process simpler.
Best for: New York City building owners who want cost segregation from a consultant that already knows city buildings and compliance.
6. EisnerAmper — Engineer-Led Site Tours Inside A New York Accounting Firm
EisnerAmper is a New York-based accounting and advisory firm with a large real estate practice. It describes a quality cost segregation study as work that requires a trained engineer, and it recommends doing the study soon after a property is placed in service so the engineer’s site tour captures exactly what is there.
The firm also points out that a study’s unit-of-property data supports future tax planning on capital expenditures, which suits owners who renovate often.
Best for: New York real estate owners who want cost segregation from the same large CPA firm that handles their returns.
7. O’Connor — A New York Office And Nationwide Appraisers
O’Connor has a New York office and publishes New York commercial cost segregation results. It points to the city’s historic buildings and constant renovation as a strong fit for cost segregation, and its appraisers work across property types nationwide.
O’Connor also handles property tax appeals, and it warranties its cost segregation studies for the duration of ownership.
Best for: New York commercial owners who want cost segregation and property tax work from one firm.
Basis Property Group treats short-term rentals as a core market, with a separate path for Airbnb, VRBO and cabin owners and guides covering more than 40 vacation rental markets. Residential rental studies start at $1,295, with the fee fixed before work begins.
A licensed engineering team produces each study, audit support is included, and every study carries a minimum ROI guarantee. That fits Catskills hosts who furnish heavily and want a study backed by engineers rather than software alone.
Best for: Catskills and Hudson Valley cabin owners who want fixed pricing and an engineering team behind the study.
9. R.E. Cost Seg — Remote Or In-Person Studies For Rentals And Small Buildings
R.E. Cost Seg offers a Rapid Report starting at $950 or a Fully Engineered Study with a virtual site visit, plus an in-person visit for an additional fee. That flexibility suits New York investors who own a mix of small city buildings and upstate rentals.
Every study includes audit support, and the firm offers Form 3115 preparation for owners catching up on properties bought in earlier years.
Best for: New York investors with a few rentals or small buildings who want to choose the depth of each study.
10. Cost Seg Smart — Low-Cost Remote Studies For Upstate Short-Term Rentals
Cost Seg Smart runs remote studies with no site visit, starting at $495 for single-family homes, condos and short-term rentals, with a separate tier for duplex to fourplex buildings. Reports are built to be CPA-ready.
For a Catskills cabin with a hot tub, deck and full furnishings, a low-cost remote study can capture a large share of shorter-life property. Lookbacks are priced the same as standard studies.
Best for: Catskills and upstate short-term rental hosts who want the lowest-cost study and a fast turnaround.
How To Choose A Cost Segregation Firm In New York
Does The Firm Know New York’s Depreciation Rules?
New York and New York City do not allow federal bonus depreciation, so your CPA will file Form IT-398 with a separate state schedule. Ask whether the firm’s report gives your preparer what it needs for both returns.
Is It A City Building Or An Upstate Rental?
Older city buildings, mixed-use properties and conversions benefit from an engineer on site. A furnished Catskills cabin may only need a remote study. See our list of firms that offer on-site property visits.
A study on a high-value Manhattan building can pay for itself many times. On a modest upstate rental, compare the fee with the likely savings. Our guide to study pricing shows typical ranges.
What Happens If You Are Audited?
Confirm that audit support is included, for how long, and whether the firm will help with New York State questions as well as federal ones.
Frequently Asked Questions
Does New York allow bonus depreciation?
No. New York State has not conformed to federal bonus depreciation since 2003, and New York City follows the state. You can claim bonus depreciation federally, but New York uses its own schedule on Form IT-398.
Is cost segregation worth it in New York?
For most qualifying properties, yes. The biggest benefit comes on the federal return, and New York still allows regular depreciation on the reclassified components over their shorter lives.
Is cost segregation worth it for a Catskills Airbnb?
Often yes, especially for well-furnished cabins with outdoor features, if you can use the losses. Low-cost remote studies make the math work on smaller properties.
Can I do a study on a New York property I bought years ago?
Engineered Tax Services, Madison SPECS and KBKG are the strongest specialist choices for New York owners, and CohnReznick and EisnerAmper suit owners who want a large New York accounting firm. Jack Jaffa & Associates is a local option for city buildings, while Basis Property Group, R.E. Cost Seg and Cost Seg Smart serve Catskills and upstate rental hosts well.
