Erik Oliver has a degree in accounting and has been working with CPAs across the country for the past seven years to help accelerate real estate investment deductions, helping to save investors money on taxes. Cost segregation is accelerated depreciation, helping real estate investors take depreciation deductions against their incomes, by segregating various costs in real estate investment – such as carpets or tile – and front loading these deductions in the early years of an investment, rather than spreading it out across a 15 or 30 year period. The government incentivizes this to help stimulate the economy and the Tax and Jobs Act of 2018 increased depreciation deductions to 100% through December 2022.
Join Erik Oliver and Host Dan Lesniak as they discuss…
∙ What cost segregation is and how to take advantage of the deductions against your income
∙ How the Tax and Jobs Cut Act of 2018 increased depreciation deductions to 100% through December 2022 and why you should act now before the year is over.
∙ Why you should pay for a tax strategist – and not just a tax preparer – to strategize on reducing your tax bill
∙ What cost segregation is and how to take advantage of the deductions against your income
QUOTES TO SHARE
💬 “If you're a real estate professional, if you're a broker, or an agent, and you do that for a living, you kind of have the golden ticket when it comes to this cost segregation stuff.” - Erik Oliver
💬 “We've seen real estate investors basically paid little to no taxes over the last five to seven years. And so if you own real estate, and you're paying taxes, it's definitely worth looking into because the laws are so favorable right now.” – Erik Oliver
💬 “That bonus is a lever that's used by the IRS and the government to stimulate the economy.” – Erik Oliver
💬 “The whole idea behind cost segregation is take your deductions today at your high ordinary income rate, pay back a portion of it, and that portion is dependent upon how long you own it, pay back a portion at a future date at a lower rate, and save the spread.” – Erik Oliver
RESOURCES
https://www.linkedin.com/in/erik-oliver-b800657
Episode #207 Simplicity is the Path to Mastery with Trevor McGregor
Episode #206 8 Strategies to Grow Your Business, No Matter the Market with Dan Lesniak & Keri Shull
Episode #205 Start With The End in Mind with Kent Clothier
Episode #204 From Mailman to Full-Time Real Estate Investor with George Gipson
Episode #203 Transitioning From Real Estate Agent to Real Estate Investor with Mike Wolf
Episode #202 5 Steps to Digital Domination with Krista Mashore
Episode #201 How to Buy Mortgage Debt with Paul Birkett
Episode #200 Social Media University with The 2020 HyperFast Sales Summit Social Panel
Episode #199 Selling the Deal with Sunil Saxena
Episode #198 Captivate Your Audience to Cash In on Success with Christina Daves
Episode #197 Managing the Deal with Sunil Saxena
Episode #196 The 4 E’s of TikTok with Lana Rodriguez
Episode #195 Money For Life with Harry Stout
Episode #194 Buying the Deal with Sunil Saxena
Episode #193 Business Growth Through Mini-Teams with Brooke Tate
Episode #192 The Keys to Successful Entrepreneurship with Sean Castrina
Episode #191 Solving Homebuyer Pain Points with Laura Moreno
Episode #190 Transitioning From Inside Sales to Outside Sales with Peter Applegate
Episode #189 Buying Real Estate on Terms with Zachary Beach
Episode #188 Hook, Story, Offer: The Importance of Copyright with Nick Tozier and William Adkison
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Aktörspodden
The Power of Storytelling
The Ramsey Show
Planet Money