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Save Money on Taxes by Deploying Cost Segregation: When and How To Use It w/ Yonah Weiss

by Jonathan Twombly
Last Updated: March 8, 2023

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Discover how cost segregation can help save you money and when it makes the most sense to utilise it!

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 hundreds of millions of dollars on taxes through cost segregation. 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 top podcast Weiss Advice.

In this episode with Yonah Weiss, you will learn:

How the Tax Cuts and Jobs Act of 2017 has impacted real estate investing

What is Cost Segregation and how can it help tax savings?

What are the benefits and challenges of running a business remotely?

Some key points:

(01:50) Yonah’s take on the current state of the multifamily market
Cost segregation is still a major interest, as it always is
(04:05) A primer on cost segregation
(05:46) How a cost segregation is conducted
(09:42) An overview of items you are able to depreciate faster
(11:10) Is there still an advantage to doing accelerated depreciation if bonus depreciation has ran its course?
(13:35) Are there times where cost segregation DOESN’T make sense?
(16:36) Is cost segregation worth it on smaller properties?
Due to fees, as a general rule, you should consider it with properties that are valued beyond 200k
(19:29) The biggest cost segregation bonuses are found in RV parks, golf courses. Hotels can fetch a bonus of 30 to 40%
(20:23) Yonah runs his US-based company remotely from abroad.
(26:23) The particular challenges of working remotely
(27:34) Dealing with business taxes while working from abroad

๐ŸŒŽReach out to Yonah Weiss
Website: https://www.yonahweiss.com/
Weiss Advice Podcast https://www.yonahweiss.com/podcast
Twitter: @YonahWeiss
LinkedIN: https://www.linkedin.com/in/cost-segregation-yonah-weiss

๐ŸŒŽReach out to Jonathan Twombly
LinkedIn: https://www.linkedin.com/in/jonathandtwombly

Loved this episode? Leave us a review and rating on Apple podcasts by clicking here.

Make sure to also check some of our previous episodes:

Going From Working In Hospitality To Multifamily Investing & Hotel Conversions With Charlie Rushton

Hotel Conversions To Multi Family Housing With David Peters

๐ŸŽค Podcast production Everglade Media

 

 

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