AEC COST RECOVERY
About
Our Simple Mission Statement:
“To maximize our client’s cash flow.”
AEC Cost Recovery was founded, in 2010, by Marcus B. Elliott with the goal of helping owners of commercial real estate use the federal tax code to generate increased cash flow through cost segregation, and partial-asset disposal studies. During the past fourteen years the firm has continuously grown, and currently has completed projects in over 25 states.
AEC Management Team
The IRS “Audit Techniques Guide” sets forth criteria and experience which should be possessed by individuals and firms performing Cost Segregation Studies. These include knowledge of both construction processes, cost estimating and allocation, plus the tax law involving property classifications for depreciation purposes. The AEC Management Team brings our clients the necessary experience and qualifications the IRS expects for each Cost Segregation Study.
Marcus B. Elliott, President
Marcus started AEC Cost Recovery in 2010 after a successful career in the oil and gas, real estate development, and business-consulting industries. He has a proven success record in a variety of financial and operational management areas, including cost segregation, 1031 exchanges, financial analysis, internal audits, fraud investigations, and workflow efficiency.
In addition, he was the senior operating manager of three different company subsidiaries. This included being the initial Chairperson and Managing Director of Santa Fe, AG - a $150 million marketing company headquartered in Switzerland. His real estate experience includes being the Vice President of Internal Audit for JPI Partners, LLC – a national developer of apartment complexes. In this capacity he implemented, and directed, audits of construction projects in 19 states, ranging in size from $20 to $125 million. In his current role with AEC, Marcus manages the entire cost segregation process for his clients, having completed $2 billion in projects, with a combined depreciation adjustment of over $700 million.
Karl C. David, Project Manager
Karl David brings to AEC over 40-years of professional construction-cost estimating experience, having completed over $75 billion in construction projects. Additionally, he holds six patents in construction industry-related technology software developments. His extensive construction estimating includes providing services to clients ranging from small, family-owned businesses to large national-known corporations. Assignments have been across a wide variety of buildings and industries, including Hospitality/Hospitality Resorts, Commercial Office/Mixed Use, Retail Industry, Medical/Hospital Sector, Educational Institutions, Multifamily Housing, Industrial Industry, Government Sector, and Nuclear Industry. Karl is a member of the American Society of Professional Estimators.
Sharon Elliott, Director
Sharon Elliott advises and assists in directing AEC marketing efforts in the Pacific Northwest and Alaska. In this role, she has been instrumental in getting AEC established in the Anchorage market. For two decades she has been President of Alaska Exchange Corporation, the premier 1031 Tax Deferred Property Exchange company in Alaska, where she is known as an authoritative voice on this expanding tax shelter. Sharon is a certified course instructor for accountants as well as the Alaska Real Estate Commission on both 1031 Tax Deferred Property Exchanges and Cost Segregation Studies. Her diverse financial background includes 18 years of real estate, loan origination, and escrow closing. Sharon is currently the President of Sitnasuak Financial Services LLC, overseeing the operation and management of Fidelity Title and Matsu Title.
Jenny P. East, Director
Jenny East joined AEC Cost Recovery in 2018. After graduating Magna Cum Laude with a B. A. in Accountancy, she joined one of the largest CPA firms in Memphis, Tennessee to begin her public accounting career. She specialized in audits of manufacturing, distribution, and auto dealership clients. It was during this time she was first exposed to the significant tax benefits of cost segregation studies. She left public accounting to become the Chief Financial Officer of Logo Brands, LLC in Franklin, Tennessee. A native of middle Tennessee, this allowed her and her husband to return home. As CFO, she developed and managed the accounting department of a start-up, family-owned company into one of the industry leaders for licensed hard good sports products. Throughout her career, she has always enjoyed the client/customer relationship. She enjoys the challenge and recognizes the importance for small businesses to have tax-savings strategies. AEC Cost Recovery’s boutique approach to its client’s needs has been the perfect fit! In her current role of Director, she has assisted on studies that have ranged from individuals who own residential investment properties, to multimillion-dollar apartment complexes. Each client receives the same amount of attention and dedication deserved.
Keith D. Burke, Director