Whether you run a small business or invest in real estate on the side, we are all trying to maximize our passive income. Our guest today, Bobby Thames, is an expert in doing just that. Bobby spent the first ten years of his career at PriceWaterhouseCoopers, becoming an expert in tax credits and cost recovery solutions. He has since started his own successful business, CENTIVE, which delivers tax and cost recovery solutions for real estate. Throughout his career, Bobby has done a multitude of cost segregation projects from sports stadiums, to bank branches, to restaurants. In our conversation, Bobby explains the many benefits of cost segregation and how to apply it to real estate. He shares the tool his company is developing to help small businesses take easy and effective control of their cost segregation, and how to use it. We also talk about Bobby’s work in the green energy tax credit space, explaining how politics can impact and incentivize decision-making in real estate. Join us for a deep dive into cost segregation and learn how you can start applying these lessons today!
Key Points From This Episode:
- Meet today’s guest Bobby Thames.
- What Bobby learned during his first ten years at PricewaterhouseCoopers.
- An explanation of cost segregation.
- Why cost segregation is important for investors.
- Why it’s important to break down buildings into their various components so as not to diminish passive income.
- How the changes that the Trump administration made to the tax code in 2017 were beneficial for cost segregation, in large part because of his experience as a developer.
- How Bobby’s company goes about doing cost segregation for clients and buildings.
- Why Bobby and his company use the same tools that appraisers use and then do cost segregation.
- Increasing your expenses through cost segregation to lower your taxes.
- The reasons why it’s beneficial to do cost segregation for your business.
- Why cost segregation can vary greatly depending on the context.
- How small businesses can work with Bobby’s company to do cost segregation.
- The new tool that Bobby’s company is making available for small businesses.
- Energy-efficient home tax credits and how to qualify for them.
- Bobby shares his keys to success.
- The importance of networking and relationships as a small business owner.
Links Mentioned in Today’s Episode:
PricewaterhouseCoopers
Bobby Thames on LinkedIn
CENTIV
How To Win Friends And Influence People
Kent Ritter
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https://hudsoninvesting.com/
Production by Outlier Audio
