How To Use Cost Segregation To Reduce Income Taxes - Joseph Viery and Lily Patrascu

Cost Segregation Specialist Shares How To Use Cost Segregation To Reduce Income Taxes - Joseph Viery and Lily Patrascu Joseph Viery is a cost segregation specialist, tax strategy advisor, and real estate consultant who has performed thousands of studies to help investors reduce taxable income and improve cash flow. He explains that instead of waiting 27.5 or 39 years to claim depreciation, cost segregation identifies shorter-life assets within a property to unlock larger tax deductions sooner. Joseph highlights that by doing this, investors can generate thousands to millions of dollars in additional depreciation, significantly reducing taxable income. He also points out that this strategy can be applied retroactively for up to 15 years, allowing investors to capture missed tax savings. Ultimately, he emphasizes that working with knowledgeable real estate-focused accountants is key to fully leveraging these benefits. About The Guest USTAGI was founded by Joseph Viery with the goal of providing quality cost segregation studies. As a Cost Segregation Professional, CSP, he has helped property owners defer or eliminate millions of dollars in income taxes by leveraging IRS compliant cost segregation studies. Since becoming a CSP in 2007, Joseph has performed thousands of cost segregation studies for clients in various industries ranging from $500,000,000 commercial properties to $50,000 single family residences. He regularly presents at workshops nationally and is a frequent guest on industry podcasts. He has a natural ability to turn complex sets of guidelines into easy-to-understand topics.4 For More Info About Joseph Viery, visit: https://www.linkedin.com/in/joseph-viery-49b1b923/ Timestamp 00:00 How to Legally Reduce Your Taxes 00:30 Meet Joseph Viery 01:10 What Cost Segregation Actually Is 02:30 Why Most Investors Miss This Strategy 04:00 How It Accelerates Depreciation 05:30 Simple Example: Saving Thousands in Taxes 07:00 Who Should Use Cost Segregation 08:30 When to Apply It (Timing Matters) 10:00 Common Misconceptions Explained 11:30 How the Process Works Step-by-Step 13:00 Bonus Depreciation & Immediate Savings 14:30 Risks & What to Watch Out For 16:00 Working with Specialists & Engineers 17:30 Real Estate Types That Benefit Most 19:00 Short-Term vs Long-Term Tax Strategy 20:30 How It Impacts Cash Flow 22:00 Combining with Other Tax Strategies 23:30 Mistakes That Can Cost You Money 25:00 Case Studies & Real Results 26:30 Getting Started the Right Way 28:00 Final Tips to Maximize Tax Savings 29:10 Key Takeaways & Closing About The HostLily Patrascu is an ultra-creative book publisher and personal brand strategist for thought leaders, CEOs, luxury influencers. As an influencer, bestselling author, copywriter, global speaker, she supports busy entrepreneurs to find their message and share it with millions of people. Feel free to connect with me or find out more about my book publishing/influential entrepreneur events/speaking/ projects here: https://linktr.ee/lilypatrascu & www.lily.global I am launching a few collaborative books: on property wealth strategies, confidence, millionaire secrets, health tools, AI, and seeking influencers with large communities to promote their expertise with the books. I can help you write/ghostwrite and publish your books in 90 days. Message me (Lily) on +447557351222 to collaborate. If you want to be featured on this podcast, and you're a successful entrepreneur able to share about how you grew your company, book your spot here: www.lily.global/podcast #CostSegregation #TaxStrategy #RealEstateInvesting #TaxSavings #Depreciation #WealthBuilding #FinancialPlanning #PropertyInvestors #IRSCompliance #SmartInvesting - *********************************************************** Getting featured is free. 🎧 Listening is free. But creating this podcast takes time, energy, and resources. If you’d like to support Lily’s mission to inspire people worldwide, contribute here: https://support.lily.global/e/propertywealthstrategiespodcast Your support keeps the Property Wealth Strategies Podcast alive and growing. *********************************************************** IMPORTANT: Earnings and Legal Disclaimers We don’t believe in get-rich-quick programs or guarantees of specific outcomes. We believe in hard work, adding value, and serving others, and our programs are designed to help you achieve those goals. As stated by law, we cannot and do not make any guarantees regarding your ability to achieve financial results, earn money, or improve your health using our ideas, information, programs, or strategies. Your success depends on your own efforts, skills, and circumstances, which are beyond our control. We are here to support you by sharing our strategies to help you progress, but nothing on this page, any of our websites, videos, marketing materials, or in our emails constitutes a promise or guarantee of future earnings, financial outcomes, or health improvements. Any financial or health-related examples, estimates, projections, or past results referenced are for illustrative purposes only and reflect the views of the hosts and guests. They should not be considered as exact, actual, or assured results. If you have any questions, please contact us at [email protected]. Welcome to the Property Wealth Strategies Podcast, hosted by Lily Patrascu! This podcast is your go-to resource for expert insights into the world of property investment, property management, and wealth-building strategies. Each episode features in-depth conversations with top industry professionals who share their expertise, success stories, and actionable tips to help you navigate the dynamic property market.