WS1582: Cost Segregation: Understanding Its Process and Benefits | #Highlights

In this #Highlights episode, we look back at our conversations with Frank Giudici of Bedford Cost Segregation team and Erik Oliver of Cost Segregation Authority. You’ll hear from Frank all about how to avoid throwing money into the dumpster, what his team at Bedford Segregation specializes in, what the IRS is looking for, and how you can save on tax, as well as the five key factors that need to be met, and so much more!Erik will discuss in detail which asset class can benefit much from cost segregation and how it works. He will also talk about the effect of tax changes that are going to take place and how you can use cost segregation to manage your tax brackets to save significantly.Key Points From This Episode: What are partial asset dispositions?What does the Bedford Segregation team specializes in?The three key fiscal benefits of educating yourself and being aware of this opportunity: loss, removal or demolition cost, and ghost assets.What the IRS is looking for and what you’ll be taxed on: the depreciation recapture tax.Why it is important that you reconcile your original starting depreciable basis.The relationship between the segregation team and the client’s CPA.How cost segregation accelerates your depreciation deductions.Three things significantly drive down the cost of the segregation study: education, bonus depreciation, and technology.How do you select a good cost segregation provider?Tweetables:“Your cost segregation provider needs to be your resource partner and he or she needs to make sure that they set you up correctly from the beginning.” — Frank Giudici “By doing a cost segregation study, it allows you to allocate the sales price to the right buckets.” — Erik OliverLinks Mentioned in Today’s Episode:Frank Giudici on LinkedInAfter interviewing thousands of entrepreneurs, one truth is clear: business success means little if it costs your marriage, family, or faith.I'm now hosting the Courageous Men podcast for men who want to lead well at home and at work. I'm looking for five men to walk closely with who want to lead well at home and work.  Email me at [email protected] and tell me why you should be one of the five. whitneysewell.com  VISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow📝 JOIN THE DISCUSSIONhttps://www.facebook.com/groups/realestatesyndication➡️ FOLLOW UShttps://twitter.com/whitney_sewell https://www.instagram.com/whitneysewell/ https://www.linkedin.com/in/whitney-sewell/ ⭐ Be Our Guest!We are continuously working hard to help our listeners with their journey to real estate syndication. If you think you can add value in any way to our listeners who are in commercial real estate, then we’d love to have you over. Apply here: https://lifebridgecapital.com/join-our-podcast/