The Real Estate Syndication Show WS1582: Cost Segregation: Understanding Its Process and Benefits | #Highlights
In this #Highlights episode, we look back at our conversations with Frank Giudici of Bedford Cost Segregation team and Erik Oliver of Cost Segregation Authority. You’ll hear from Frank all about how to avoid throwing money into the dumpster, what his team at Bedford Segregation specializes in, what the IRS is looking for, and how you can save on tax, as well as the five key factors that need to be met, and so much more!
Erik will discuss in detail which asset class can benefit much from cost segregation and how it works. He will also talk about the effect of tax changes that are going to take place and how you can use cost segregation to manage your tax brackets to save significantly.
Key Points From This Episode:
- What are partial asset dispositions?
- What does the Bedford Segregation team specializes in?
- The three key fiscal benefits of educating yourself and being aware of this opportunity: loss, removal or demolition cost, and ghost assets.
- What the IRS is looking for and what you’ll be taxed on: the depreciation recapture tax.
- Why it is important that you reconcile your original starting depreciable basis.
- The relationship between the segregation team and the client’s CPA.
- How cost segregation accelerates your depreciation deductions.
- Three things significantly drive down the cost of the segregation study: education, bonus depreciation, and technology.
- How do you select a good cost segregation provider?
Tweetables:
“Your cost segregation provider needs to be your resource partner and he or she needs to make sure that they set you up correctly from the beginning.” — Frank Giudici
“By doing a cost segregation study, it allows you to allocate the sales price to the right buckets.” — Erik Oliver
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