Anderson Business Advisors Podcast

Cost Segregation with Brett Hansen [Replay]

August 7, 2019

What possibilities are available when you own rental real estate? Different strategies are available to maximize tax benefits. For example, learn how to take advantage of a tax saving tool that saves you thousands of dollars each year. In this episode, Clint Coons is joined by Brett Hansen of Cost Segregation Authority to discuss such benefits associated with residential real estate investments. 

Highlights/Topics: 

  • When you buy property, you can depreciate it over time; Cost Segregation Authority accelerates depreciation to increase your expenses/lower your net taxable income
  • If you pay less tax to the IRS, save that money to increase your portfolio and invest in things that get a return; it’s not a deduction, but reduced amount of taxable income
  • Smart Tax Planning: Maximize depreciation deduction to reduce tax burden; re-classify assets of a property to identify components that can be depreciated faster
  • For assets that you didn’t capitalize on (up to 20 years), you can bring them forward into the next tax return via the Section 481(a) adjustment tax form 
  • CPA must understand value cost set to use cost segregation for residential property
  • Cost segregation studies meet IRS guidelines to protect clients from/during audits
  • Changes in Tax Laws: Bonus depreciation - no longer need to purchase new equipment and bonus percentage changed to 100%
  • Next Steps: To analyze your property, provide the total cost you paid for it, the year you purchased it, and the property’s address to get the projected benefit and associated cost 

Resources

Cost Segregation Authority

Brett Hansen’s Cell (801-884-8358)

Section 481(a)

Clint Coons

Anderson Advisors

Tax and Asset Protection Event