Are You Interested in a Free 15-Minute Consultation?

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

A lot of it is just education, people have questions and they're mostly the same questions over and over again. So I've created some content that I can point them to, but it's what I'm just getting to know people. Certain types of properties benefit more from a cost segregation study than others. And with this thing called bonus depreciation, you can actually take the entire accelerated depreciation in the first year.

Yonah Weiss does a deep dive on cost segregation. As business director at Madison SPECS, a national cost segregation leader, he’s assisted clients in saving hundreds of millions of dollars on taxes through cost segregation.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

08:02 - What his early career was like as an educator.

09:32 - How he transitioned in his 30’s to real estate after his teaching career.

23:42 - Why fix and flips weren’t for him.

24:09 - Why he feels your network is your net worth.

37:49 - How he became an expert in cost segregation.

37:49 - What cost segregation is and the tax savings it can generate.

54:31 - How bonus depreciation works and how the IRS will treat it in the coming years.

56:40 - How he continues to give back and teach through social platforms and his podcast.

01:03:11 - What the most impactful book has been for him.

01:03:22 - How he views success.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Related episode: Listen to: REI120: Tax Strategies for Real Estate Investors w/ Amanda Han, or watch the video.
Weiss Advice Podcast.
Robert’s book The Everything Guide to House Hacking.
The 7 Habits of Highly Effective People by Stephen Covey.
Rich Dad Poor Dad by Robert Kiyosaki.
Richer, Wiser, Happier by William Green.

NEW TO THE SHOW?

Check out our Millennial Investing Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.