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
Rethinking Social Media and Real Estate
Authenticity Can Help You Grow Fast
Real Estate is an Adventure Every Day
Working With Your Spouse in Real Estate
Building a Team – Part 3
Building a Team – Part 2
Building a Team Part 1
More Opportunities for Skilled Agents
Revenue Share vs Profit Share
Diversify Investments and Build Your Skills
How to Close More Buyers in 2023 – Part 3
How to Close More Buyers in 2023 – Part 2
How to Close More Buyers in 2023 – Part 1
How to Get More Listings in 2023 – Part 3
Finding Alternative Sources of Income in Real Estate
How to Get More Listings in 2023 – Part 2
How to Get More Listings in 2023 – Part 1
The Future of the Uncapped Broker Model
Keeping Your Mind Right in Real Estate
9 Things You Need to Do In This Market (Part 3)
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Bank of America Treasury Insights
How I Crushed It
Pharmacy Podcast Network
The Ramsey Show
Planet Money