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The Academy Presents podcast


Jul 18, 2022

This is part 1 of my conversation 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 the host of the top podcast, Weiss Advice.

 

In this episode, Yonah discusses Cost Segregation, where he defines it as the practice of separating out the cost of a property into different categories, such as nonstructural items such as carpets or flooring, and structural items like walls or plumbing. This method allows you to take deductions for each category over a period of time, which can be beneficial when the value of the property increases over time. He emphasizes that learning about this benefit and paying attention to current market trends, you can make sure that your money is working for you and not against you!

 

[00:01 - 03:30] Understanding Depreciation and Cost Segregation

 

  • Yonah discusses how it is important to understand depreciation and cost segregation 
  • This process allows you to take deductions for the entire value of a property over a period of time

 

[03:31 - 22:01] Educate Yourself To Make Your Money Work For You

  • Yonah discusses how we should take advantage of the 100% depreciation for new acquisitions
  • Cost segregation and landscaping improvement can still be still be depreciated over a longer period of time
  • He predicts that there will be more people searching for information on real estate investment
  • Make your money work for you
  • Educate yourself to find strategies that can help accelerate the process

[22:02 - 26:19] Closing Segment

 

  • Yonah defines Inflation and how it affects the economy!

 

 

Tweetable Quotes:

“Putting your money where it can work for you. Once you build on that passive income to a certain point where the goal is to have passive income and replace the time that you need to invest to actually trade that time for money. And that's what separates the wealthy from the rest of the world. It's a mindset more than anything.” – Yonah Weiss

 

“Educating yourself and continuing to find these strategies that can actually help accelerate that process.” – Yonah Weiss



 

Connect with Yonah through his website, Facebook, LinkedIn, YouTube, Spotify, Podcast or email him!

 

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