REM 21: Yonah Weiss - The Best Tax Saving Tool in the Game

If I told you that there was a way that you could pay zero dollars in taxes just by owning real estate, would you believe me?

In today’s episode, Yonah Weiss teaches us how to do it!

The strategy requires an epic combination of a Cost Segregation Study and Real Estate Professional Status.

You may be familiar with Depreciation, which is a tax deduction that allows you to write off the value of your property over the duration of its useful life, which is typically 27.5 years.

A Cost Segregation Study identifies the individual components of your property that have shorter useful lives so that you can take bigger tax write-offs in the first year of ownership!

Yonah Weiss is the Business Director at Madison SPECS where he has assisted clients in saving hundreds of millions of dollars on taxes through cost segregation. Yonah has one of the most active and value-packed LinkedIn presences of anyone I know, and his willingness to help everyone he meets is truly inspiring!

In today’s episode, we discuss…

• How a Cost Segregation will massively reduce your taxable income.
• Why depreciation is a paper deduction but not actually a loss of intrinsic value.
• A Walk-Through of a Cost Segregation Study.
• Yonah’s tips and tricks for networking and growing your business through LinkedIn.
• Some of the most obscure items ever found in a cost segregation!

To learn about the rest of the strategy and to get some expert advice on how to take your LinkedIn to the next level, tune into today’s episode to hear from the Cost Seg King!

Keep Making Milestones,
Ben Malech

If you want to learn more about Yonah, you can find him at:
Yonah’s LinkedIn: https://www.linkedin.com/in/cost-segregation-yonah-weiss/
Yonah’s Website: Yonahweiss.com

To learn more about Ben, connect with him through:
Ben’s Website: https://benmalech.com/
Ben’s LinkedIn: https://www.linkedin.com/in/benjamin-malech/
Ben’s email: [email protected]

Resources Mentioned:
Tanya - Shneur Zalman of Liadi
The Way of God (Derech Hashem) - Rabbi Moshe Chaim Luzzatto
Abbey Road - The Beatles
Legend - Bob Marley
Virgin Beauty - Ornette Coleman

SHOW NOTES:

• 4:18 - What is Cost Segregation?
• 6:21 - A Walk-Through of a Cost Segregation Study
• 9:00 - Different depreciation schedules for different items
• 11:15 - What is depreciation recapture tax? 
• 13:30 - What are the keys to tax deferral?
• 15:07 - How Yonah became the Cost Seg King
• 16:25 - The most obscure thing ever included in a cost seg study
• 18:45 - What can you NOT depreciate? 
• 21:30 - who will benefit the most from cost segregation?
• 25:15 - Yonah’s tips and tricks for Linkedin and networking in general
• 30:00 - Why Yonah is passionate about helping people every day
• 32:57 - Lightning Round
• 37:00 -

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