068: Cost Segregation Tax Hack with Yonah Weiss
Yonah is a powerhouse with property owners’ tax savings. As Business Director at Madison SPECS, a national Cost Segregation leader, he has assisted clients in saving tens of millions of dollars on cost segregation tax. He has a background in teaching and a passion for real estate and helping others. He’s a real estate investor and host of the new podcast Weiss Advice.
Here are the questions for the podcast:
- What’s your role in the business?
- How did you get into cost segregation space?
- What is cost segregation? Can you give an example with numbers?
- How does bonus depreciation work especially after Tax Cuts Jos Act?
- I am a passive investor and have invested $100K in an multi-family syndication? Would cost segregation loss flow to me? Can I apply the loss to my active income?
- What if I don’t have enough passive income to write off the passive loss? How long can I carry forward the loss? What happens when the property is sold?
- When is paying for cost segregation justified? Can I do it on single family house, duplex, fourplex etc? I have a 10 unit property acquired for $500K, would it be worth to go through cost segregation?
- When should someone involve a cost segregation company? During due diligence or after close and why?
- Do you personally invest in real estate and what kind of real estate? Where do you see market is headed in the next 2-3 years?
To learn more about the discussion, you can watch the podcast on Wealth Matter’s YouTube channel or contact Alpesh here.