RG 263 - How Property Owners Can Save Thousands of Dollars in Taxes – w/ Yonah Weiss

Want to know how you can keep more of the money you make? Yonah Weiss is here with us this week to teach us the benefits of cost segregation—and how you can start applying it to your real estate business. Yonah Weiss is a real estate investor, spirituality teacher, host of the Weiss Advice podcast, business director of Madison SPECS, and cost segregation expert. After being a spirituality teacher for fifteen years, Yonah decided to do something more and started investing in real estate. This shift led him to discover the knowledge gap in cost segregation among the real estate investors that he encountered. And now, Yonah dedicates a lot of his time to teach other business owners how to save millions of dollars in income tax through cost segregation. If you invest in real estate, you either know about cost segregation or you don’t. If you’re part of the former group, you may be missing out on tens of thousands of dollars in income tax savings. Luckily, Yonah is here to shed light on the basics of cost segregation as well as its benefits, primarily: maximized annual depreciation, lower capital costs, better cash flow, and reduced upfront income tax, among many others. Whether you invest in multifamily or commercial properties, cost segregation can put you at a great advantage and let you keep more of your income. Don’t miss out on this extremely informative episode—this could be the knowledge you need to make even more money! KEY TAKEAWAYS Everything that you do has a purpose, no matter how mundane it may seem. Focus on the things that bring you the most joy to ultimately live a happy life. Breaking a building into categories can help you benefit quicker from tax deductions. Things in a building that are not structural can be written off as tax deductions. LINKS https://www.yonahweiss.com/ https://www.linkedin.com/in/cost-segregation-yonah-weiss