104. Deal deep-dive I Cost segregation: Is it worth it? with Joseph Viery

ABOUT JOSEPH VIERY

USTAGI was founded by Joseph Viery to provide quality cost segregation studies. As a Cost Segregation Professional (CSP), he has helped property owners defer or eliminate millions of dollars in income taxes by leveraging IRS-compliant cost segregation studies. Since becoming a CSP in 2007, Joseph has performed thousands of cost segregation studies for clients in various industries ranging from $500,000,000 commercial properties to $50,000 single-family residences. He regularly presents at workshops nationally and is a frequent guest on industry podcasts. He has a natural ability to turn complex sets of guidelines into easy-to-understand topics.     
THIS TOPIC IN A NUTSHELL:              Joseph’s career backgroundAbout USTAGI company
First few businesses and shift to the real estate industryHow he got started in cost segregation
Type of projects handled in the company
Analytical study vs. Engineering studyDoes it make sense to do cost segregation for short-term rentals?
What they look for in short-term assets
Bonus depreciation and tactics
Cost segregation: Is it worth it to pay the fees?Who is a good candidate for cost seg?
When does it make sense to use an analytical study approach?
When to use the detailed engineering approach?
The best time to start the cost segCommon misconceptions of doing Cost SegWhat is Depreciation recapture? What happens if you do not do cost seg?
Connect with Joseph     KEY QUOTE: “If you're not gonna hold on to a property for at least a year and a half or two years, I tell you myself, don't do a cost segregation.” 

 

SUMMARY OF BUSINESS:

USTAGI - US Tax Advisors Group, Inc. provides engineering-based cost segregation studies to all levels of Real Estate Investors. Cost Segregation is the process of identifying property components that are considered tangible personal property or land improvements under the federal tax code. Instead of using straight-line depreciation over 27.5 or 39 years our detailed engineering studies will identify property with a shorter tax life of 5, 7, and 15 years.       ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.     The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.     #realestateinvesting #RealEstate #REInvestors #TaxAdvisors #CostSegregation #TaxSavings #TaxSavingStrategies #commercial #residentialproperties #PropertyAnalysis #UStaxAdvisors #DetailedEngineeringStud