Do you own rental property, but haven’t done any cost segregation study on it? How can you use bonus depreciation to generate a large cash-flow for yourself now?
In today’s podcast, we talk with Chuck Mayfield of MatchGrade about how to use cost segregation to get the best benefit from your rental property depreciations, and even get big bucks from bonus depreciation into your portfolio now that you can use quickly to generate wealth and stimulate the economy.
We discuss Cost segregation as a tool to classify property to optimize depreciation deductions for taxes
Understanding personal property and land improvement for cost segregation on rental property
Basic real estate tax principles and why cost segregation is key to finding hidden money
Bonus depreciation - the benefits of using it and how it stimulates the economy
How bonus depreciation utilizes the time-value of money to generate large cash-flow now vs small amounts over a long period
How to work with the partnership of a CPA along with a cost segregation engineer to maximize your benefits legally when you file returns
Different kinds of cost segregation options available and how a cost segregation report is made
How much of your property purchase price to allocate to land in a cost segregation study
What rules the IRS and Treasury Department have for cost segregation
From when to start a cost segregation for a property that needs remodeling, but needs to be demoed to a client
When and how to use a partial asset disposition for property renovation or remodeling
How to find the hidden money in cost segregation for remodeling a house
How you can use lookback cost segregations if you already have property, but just found out about optimizing depreciation deductions
When to use IRS form 3115’s Change of Accounting Method, and when to use Section 481(a) for catch up depreciation
To Learn More
If you want more information from Chuck Mayfield, or learn more about cost segregation, you can email Chuck at chuck@matchgradellc.com
To access the bonus tax content mentioned in the episode, go to https://www.hiddenmoney.com/bonus.
To start using the tax code as a tool to grow your wealth, schedule a call with Pine & Co. CPAs: https://www.pinecocpas.com/consultation
