Creative Capital Podcast 27: Saving Millions Through Cost Segregation with Yonah Weiss
Creative Capital
Josh Ferrari
4.9 • 62 Ratings
🗓️ 27 November 2020
⏱️ 48 minutes
🧾️ Download transcript
Summary
When investing in real estate, one of the few negatives is that you must pay taxes on everything that you buy or sell. What most people don't know, is that the government actually provides you with loopholes in order for you not to have to pay some or all of those taxes.
Today with us is Yonah Weiss, Business Director at Madison SPECS, a national Cost Segregation leader. Yonah has helped hundreds of clients save tens of millions of dollars in taxable income by means of a cost segregation. Now, some of these terms and ideals might go a little over your head for some of you newbies in the real estate space. But nonetheless, this show is one you will NOT want to miss! Yonah dives deep into different strategies of Self-Directed IRA's, bonus depreciation, single-family, multi-family, mindset, and so much more, on how they can save you not hundreds or thousands, or even tens of thousands, but MILLIONS of dollars by paying a fee as small as $5,000... Who wouldn't do that?!
Be sure you listen all the way to the end and hear his genius advice on how to create a path to success through real estate. Happy Thanksgiving!
For more information about Ferrari Capital, visit our website @ https://www.ferraricapital.com
Transcript
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| 0:00.0 | You're listening to the Creative Capital Podcast. |
| 0:08.0 | You're dying to learn about how you can create wealth through real estate investing, |
| 0:11.0 | then you can come to the right place. |
| 0:13.0 | Join in every week as we go over the ends and outs of real estate investing and |
| 0:18.0 | learn how you two can become financially free. Bonus depreciation allows you to take all of the accelerated depreciation in year number one in the first year. |
| 0:29.0 | So instead of spreading that $200,000 over a five year period, which is huge in of itself, you can actually take it all in the first |
| 0:36.1 | year as a tax write-off. |
| 0:37.1 | Hey, what's going on everybody? |
| 0:39.1 | This is Josh Ferrari, host of the Creative Capital Podcast, and this will be coming out the Friday after |
| 0:46.0 | Thanksgiving so I guess happy belated Thanksgiving and happy Black Friday |
| 0:51.4 | if you're doing any Black Friday shopping if they even are having that with COVID and everything going on. |
| 0:57.0 | But today we have a very timely interview with none other than Mr. Yona Weiss who has been I mean |
| 1:06.5 | just crushing it in the networking and the socializing you know talking to other people in the space and getting his name and his company out there with cause segregation. |
| 1:20.0 | Now some of you might not really know what cost segregation is and a lot of this conversation |
| 1:25.9 | from this particular interview might necessarily go over your head, but it's still the mindset |
| 1:32.2 | that you need to have going into it. |
| 1:36.4 | And some of it you don't even necessarily need to understand. |
| 1:38.6 | If you get the basics of this, you can hire someone like Yona or a CPA that understands the in and outs and that can help you do exactly what it is you need to do. |
| 1:48.0 | You don't need a PhD in accounting or anything like that to figure this stuff out. |
| 1:52.0 | But if it does go over your head... or anything like that to figure this stuff out. |
| 1:53.0 | But if it does go over your head nonetheless, it's still an episode that I highly recommend |
| 1:58.3 | that you guys listening to, especially now that we're coming to the end of the year because cost aggregation deals a lot with taxes and how you're able to reduce your tax liability |
... |
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