068: Cost Segregation Tax Hack with Yonah Weiss

Yonah is a powerhouse with property owners' tax savings. As Business Director at Madison SPECS, a national Cost Segregation leader, he has assisted clients in saving tens of millions of dollars on taxes through cost segregation. He has a background in teaching and a passion for real estate and helping others. He’s a real estate investor and host of the new podcast Weiss Advice. Here are the questions for the podcast: •         What's your role in the business? •         How did you get into cost segregation space? •         What is cost segregation? Can you give an example with numbers? •         How does bonus depreciation work especially after Tax Cuts Jos Act? •         I am a passive investor and have invested $100K in an multi-family syndication? Would cost segregation loss flow to me? Can I apply the loss to my active income? •         What if I don't have enough passive income to write off the passive loss? How long can I carry forward the loss? What happens when the property is sold? •         When is paying for cost segregation justified? Can I do it on single family house, duplex, fourplex etc? I have a 10 unit property acquired for $500K, would it be worth to go through cost seg? •         When should someone involve a cost segregation company? During due diligence or after close and why? •         Do you personally invest in real estate and what kind of real estate? Where do you see market is headed in the next 2-3 years?