Claim Your FREE 45-minute consultation to receive business planning tips and asset protection. 👉 aba.link/84a6a3

@andreakonig2410

Жыл бұрын

ok oo

@wsmaga

Жыл бұрын

I could def use your help with my rental. Awesome information.

@MrManny075

Жыл бұрын

Taxes help build schools, hospitals, and infrastructure that you use every day if everyone avoids paying taxes then what? Only the poor man pays taxes, and the rich use everything the poor man pays for, is that good? Badman says I don't care, greed is good.

@wsmaga

Жыл бұрын

@@MrManny075 stay poor and pay more taxes. Remember when doing your taxes at the end of the year you can always pay more. Just remember this, a poor man has never given anybody a job.

@MrManny075

Жыл бұрын

@@wsmaga No one said to pay more just be honest and pay what you should, A greedy person never thinks of paying more he always tries to pay less, Remember this, a greedy rich man without the poor man, he wouldn't have a job in the first place, in fact, he wouldn't have anything

Toby, Thank you so much. I recently purchased 4 rentals and was struggling to understand the tax benefits between being passive, active, & a RE professional. IRS pub 527 didn't help. But in one sentence you made it clear. "Passive losses are only deductable from passive income." BOOM. Now I know which way to go. Thanks, Dirk

Thanku. As usual, you killed it!!! Appreciate your time and effort sharing such potent content 👏🏿

Thank you so much, Tobi!

Very informative. Thank you

You will forever be in my prayers. Thank you so much for all you do and share

This is one of the most useful videos I've seen in KZread

@TobyMathis

Жыл бұрын

Glad you think so! Thank you so much for watching our content!

Reducing your tax liability is a smart financial move. It's all about strategic investments and leveraging tax-saving opportunities. I've seen significant benefits by diversifying my portfolio and taking advantage of tax-efficient investment vehicles. It's not about avoiding taxes, but rather optimizing them to maximize your wealth. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made...

@Alexedmartin.

8 ай бұрын

Investing typically demands a good understanding, and that's where having a financial consultant is invaluable. I've had the privilege of working with Regina Louise Collaro, an investment advisor affiliated with a licensed wealth management firm.

@Alexedmartin.

8 ай бұрын

Her guidance has significantly enhanced my financial situation. She's widely recognized for her expertise, so you might have come across her name. With her support, I've attained financial security and now receive a steady monthly income through her successful passive income approach. I strongly advise considering an experienced investment advisor to boost your financial prospects.

@Alexedmartin.

7 ай бұрын

Regina Louise Collaro is based in the United States and can work with anybody wherever they stay. If you would like more information on reaching her, you can conduct a search online.

@ugojazzy7812

7 ай бұрын

personally, I'm blessed and realizing I'm not the only one working with Regina Louise Collaro. I will consider myself lucky. I've been able to feed and make a living through her advice and great work. For such a person as Regina, I owe her gratitude, support and endless prayers as it is not easy to gain access to such a competent and reliable adviser. Who isn't just wise but has all it takes to handle an investment and is good at what she does.😊

@emeldcentor1474

7 ай бұрын

​@@Alexedmartin.I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me.I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me.

Thank you for the wonderful information and teaching; your shared knowledge is much appreciated

@TobyMathis

Жыл бұрын

Thank you for watching!

Awesome presentation, Toby!

@TobyMathis

Жыл бұрын

Thanks for watching us!

Thank you Toby!!

Wow you videos are amazing!

Wow!, great stuff Toby, thanks for sharing

@TobyMathis

Жыл бұрын

Thank you for watching the content, Efren!

This was valuable information!!!!! Thank you soooo much! 😉

@TobyMathis

Жыл бұрын

You are so welcome! Thank you for watching our content!

Thanks for the video

Great video. Thanks!

excellent, thank you for your knowledge.

@TobyMathis

Жыл бұрын

Thank you for watching our content, let us know if you have any questions!

Awesome content!

Interested in your Cost Seg referral, I'm in the DFW (Denton) area. Thank you for the excellent video(s)!!

Thanks !!!

Great info! Shared with 2 people too!

@TobyMathis

Жыл бұрын

Thank you!

Thanks for sharing!

@TobyMathis

Жыл бұрын

Our pleasure!

thank you for the full explanation

@TobyMathis

3 ай бұрын

You are welcome!

Thanks a million Toby.

Great info!

Great video. The one thing I wish everyone would stop doing is referring to this as a "loophole". It is an Incentive. The government has created incentives to encourage people to buy real estate, vehicles and other goods, and offer a tax savings if they do. This is done as a stimulus to the economy. It gives people jobs and, in the case of rental real estate, it gives people places to live that other wise wouldn't exist. It is fair and effective. Politicians refer to these incentives as loopholes as a way to vilify the use and claim people don't pay tax. Thanks again, Toby!

@overbuiltlimited

Жыл бұрын

Excellent points!

@10317

Жыл бұрын

Thanks Randy. You had an elegant way of wording real estate investing.

@akemyjones4196

Жыл бұрын

I live in California. Do you have anyone you could refer me to that does cost segregation? Also to establish a non profit organization? Thank you so much. I've learned so much by watching your videos.

@randyboggs1271

Жыл бұрын

@@akemyjones4196 Check with your CPA

@stevencollin617

Жыл бұрын

Very Good point

Great Video..👍🏼👍🏼👍🏼

This is a fantastic video. So much great and accurate content. Most KZread tax videos promise something in the title and underdeliver with high level, vague content. This is quite the opposite. I’m a CPA, and you’re spot on, Cost Seg studies are rarely taken advantage of. Loved the Doctor AirBNB strategy you provided.

@TobyMathis

Жыл бұрын

Thank you, we are glad to hear you found the info informative! We appreciate your kind words.

@drx1xym154

Жыл бұрын

The problem with taxes is that they vary - State to State and country to country ... and there is a TON of nuance on all those rules and incentives. Specific advise can be tricky to give - in broad terms, which I guess is why SOME channels are so vague. This is why people specialize. A good CPA/Tax accountant can be worth their weight in gold. Fair winds!

Do you have accountant recommendations for rental property in MS and CO?

Beautiful!

Great video. Now to figure out how to implement into the portfolio!

@TobyMathis

Жыл бұрын

Great to hear and good luck!

It's about time someone gives examples, clarify more for my self.Great job!

@TobyMathis

Жыл бұрын

Thank you, let us know if you have any questions!

Toby, you are the best!

Hi, who you you have that can do the cost segregation study?

Thanks Thanks and Thanks 🙏♾️

Wow I'm watching this a second time... This is really damn good info!!! Thank you!

@TobyMathis

Жыл бұрын

Thank you!

Great ideas!

Very informative , I am Canadian living in Canada Do you recommend any one in GTA Toronto? Thanks Anil k

Great video bud, keep it up. We definitely appreciate your efforts... for sure

Toby, do you have a referral in the Nashville area for cost seg? Thanks, Doug

Do you recommend whole life policies?

Hey Toby, if you do an asset segregation, and end up with the IRS owing you, for several years, is there anything special that needs to be done?

How do you get the amount of each such carpet. cabinets, &landscape value amount at house purchase? by estimating or by having a professional to do that?

Incredible share of info. We appreciate your experience and advice.

Wow! I wish I would of known about this 10 years ago. Thank you!

Again Tony Great Video, Information that Everyone of those new agents are going to hate> 87,000 of them...

The depreciation has to be recaptured when you sell it?

Thank you so much

@TobyMathis

Жыл бұрын

Thank you for watching the channel!

Hi, great video . I have a rent for 89 years already. But I didn’t do cost seg. Can you refer someone can do cost seg. Analysis in Orange County, CA?

Thank you for all this info. If you can please answer this question: As an American real estate investor, does this apply if you purchase a rental in a different country? Can you still write any of that off like in this example?

Great information. I have two questions. 1. Who comes up with the list of items that can be segregated? Do you have a minimum amount? Say 5,000 for an item to be segregated? 2. Who comes up with the appropriate cost and depreciation period (5,7,15 yrs). Is that the accountant? This is especially important if it is for property that was purchased years ago. Do you use the cost from when the property (eg the carpet) was purchased or from today?

Amazing information, really clear and direct!!! Thank you

Super!!!!

Thanks so much for your explanation. Can we do the bonus cost seg the second year of owning the house? If not, what can we deduct on the second year ? Thanks so much

@TobyMathis

5 ай бұрын

Great question, in order to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Visit: aba.link/84a6a3

Always love your knowledge and video’s will definitely one of these days come see you Thanks!!!

I've been doing these reports for almost 20 years. I still don't understand why more people don't use them. Every investor with an AirBnB or VRBO or even a regular rental property should be doing these.

@yingwu2143

2 ай бұрын

Would you mind sharing how much the audit risk increases if you file the cost segregation report on a Schedule C? Also, what is the correct method for determining the value of improvements? For a newly purchased property, is it correct to use the purchasing price minus the land value shown in the newest property tax bill?

@Loonypapa

2 ай бұрын

@@yingwu2143 if you have a professional do it properly, the audit risk is low. None of my reports have ever been audited, but then again I'm a licensed engineer and I'm exactly the type of professional that the IRS wants to see do these things. As a P.E. and a member of ASCSP and AACE, the methods for determining values are straightforward for me, but probably a mystery for the average person. Also regarding land, the IRS doesn't like to see assessed land values as the basis for land. They'd rather see comps or a full blown appraisal. There are also a small list of closing costs that can be incorporated into the final basis.

Is there deprc recapture upon sale?

Such a helpful video. Thank you! Now, how do we find these CPAs that can do this...?

@TobyMathis

11 ай бұрын

Good question! Anderson Business Advisors has a team of Attorneys and CPAs that work with the provisions of the Internal Revenue Code to ensure individuals and investors can minimize their tax burden. With evolving laws and tax code interpretation, we strive to adapt and develop new strategies for people to have the most asset protection and tax mitigation that the law provides.

Can you do that on commercial real state?

This is a really good video!!

@TobyMathis

13 күн бұрын

Thanks for the support!

How much will cost this study in NJ?

Loved the video. I have a few ABNB's. Can you refer a tax firm that performs cost segregation work?

@TobyMathis

Жыл бұрын

Hi Andy, we recommend speaking with one of our advisors. Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.

Mr.Mathis is Brillant !

@TobyMathis

2 ай бұрын

Thank you so much for the kind words!

Don't these techniques just move deductions from the future to the present? In the long term is there any advantage?

What year does 100% bonus depreciation stop?

Coach Toby One!!!

Can you send a link for the company that can do the cost segregation analysis? Thanks

Thank you for your excellent video on cost segregation. Extremely interesting and enjoyable.

What if you make rental to primary

As always the best

Good info

@TobyMathis

Жыл бұрын

Thank you nok, glad you think so!

I really need to talk to you Toby. I am a long time real estate investor and need your advice. I really enjoy your videos. Lots of great info which I appreciate!

How to assess the values, like carpets, cabinets, etc?

Is ther any software to help calculate the segregated cost

Great information wish I knew This will work on personal property

Would there be any benefit to donating to your own non-profit after the first year deduction?

My accountant is moving from California to Washington, he had mentioned being re professional to my wife years ago, but we understood she needed to be selling property herself and take courses exams and state licensing. She stopped working as nurse Rn to manage our properties. We never cost segregated and never filed as her being re pro. What a costly mistake. Please help and point me in direction of who we talk to. Thanks for great information.

I was a little overwhelmed but I think I followed most of this. Got any recommendations for a tax acct in Lake County. FL?

@TobyMathis

10 ай бұрын

I recommend speaking with one of our advisors for any legal advice. Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.

Great video! Can you recommend a cost seg professional in DFW area?

@TobyMathis

12 күн бұрын

I'd recommend visiting andersonadvisors.com/csa/

Toby, always on the mark

You mentioned this could be done on real estate you already sold. Then right at the end I believe you said “if you have access to it” can you elaborate?

Where do we get tax segregation assessment? Is this something that can be done in Maryland?

Great video! what about if the house has a mortgage ? can I deduct the same amount of this or just my equity? Also can I deduct the mortgage? Last question, so if I have a home, that I dont use or I lend it to a friend, can I ask him to leave the house November and write it off? or must to be the las time of the year?

@TobyMathis

Жыл бұрын

Generally, this applies regardless of whether the property is financed or not. So, this applies to the full purchase price of the property, not just the equity. In addition to this depreciation, if the property is financed, you can often write off the interest being paid as well. If you are the legal owner of the home, you can use the depreciation as a loss, regardless of whether the friend stays or leaves in the property. Generally, as mentioned in this video, you may use up to $25,000 per year in the losses, or unlock all of the passive losses if you qualify as a Real Estate Professional. If you are seeking to take advantage of the short term rental real estate professional status, then yes, your friend would need to vacate the property, and you would need to self manage (if towards the end of the year).

If you owned a house for many years ( rental property ) and never did cost seg can you do the past 15 years now ?

@felipedasilva1316

29 күн бұрын

@toby, please answer this! I’d love to hear your take and all the nuance involved. Thanks!

Thank you for the great information 😀

@TobyMathis

Жыл бұрын

Our pleasure! Thank you for watching!

do you recommend a HELOC for single family home investments

Thank you. Great information!

@TobyMathis

Жыл бұрын

Thanks for watching!

Does this have the same effect on property that you've owned for over 30 years?

Excellent information. This knowledge is gold.

Great video

@TobyMathis

11 ай бұрын

Thanks for watching!

thank you :)

Toby, this was the absolute best video to understand cost segs!! Thank you first of all! Is there anyone in Michigan that you would recommend to use as our CPA or would your firm be willing to take us on to evaluate our situation with 4 rental properties that we have purchased in the past year alone, cash flowing well on all, and have set up our Trust and holding company accordingly... Much appreciate all of your time and education!

@TobyMathis

Жыл бұрын

Hi Matthew, thank you for leaving your comment. You can request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation.aba.link/tobyss

@TheMkarr

Жыл бұрын

MI property does not rise. Barely stays flat & tends down. At least near Traverse area. Must be worse in UP. Am I correct ?

It appears this only works if I purchase/own the property in my name. But that means the liability is in my name. If I purchase and manage under a LLC does all of this still apply?

Can you refer me to a company that helps with cost segregation? I need to do this for my Real Estate purchased at the end of 2022. I need the extra tax savings to offset a partial 1031 exchange.

Can I get referral for Cost Segregation study?

Something I haven’t been able to find online. I have owned (and lived in) a property for nearly 7 years. Now, we are buying a new personal property and turning the house that we’ve lived in for years into a rental property. If we were to do a cost segregation analysis, would the basis of this analysis (and subsequent depreciation) be the purchase price from 7 years ago (130,000) or the approximate value of the house now (around 240,000)?

@Loonypapa

7 ай бұрын

It's whatever you paid for it originally, plus any capital you put into it. You only use the current market value when you purchase the property for the current market value.

Great Video! one question: can i use cost segregation to lower my taxes from income earned from my other businesses? for example: I'm a home inspector, and business has been good. I have a new property i bought recently, but have not yet rented it out. can i depreciate this before renting it out, and use this to offset some of the gains made from my home inspection business? or can i only use this to offset gains made from the rental property itself?

@TobyMathis

Жыл бұрын

Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby

@protocolmagic

Жыл бұрын

If it's in the same year as active rental activity you can, e.g. self managed airbnb with short stays. (Schedule C vs Schedule E)

@tax-modern

5 ай бұрын

@@protocolmagic Self-managed short-term rentals (using the "STR loophole") still go on Schedule E, not C.

can you please send a tax resource who works in Washington state?

Hi, thanks for the great information. Quick question, if I am a US citizen living abroad would this also be applicable to foreign properties I own? Above and beyond the typical FEIE deduction of course.

@TobyMathis

Ай бұрын

Thanks for tuning in. That's a great question, have you set up a consultation with my team? I might register for a consultation so we can provide the most accurate solution. aba.link/84a6a3

How does VRBO 30 days or more work in this scenario?