Cost Segregation: Maximizing Tax Benefits in Real Estate with Terry Judge - Episode #286

In The Lab with Ruben Kanya

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Welcome to the lab! Today, we're diving into the world of cost segregation and tax incentives with our distinguished guest, Terry Judge. As a Cost Segregation and Tax Incentive Expert, Multifamily Investor, and Lifetime Entrepreneur who’s helped investors save over a billion dollar’s worth in tax savings, Terry's journey is nothing short of inspiring.

A former mechanical engineer turned real estate tax strategist, Terry thrives on the challenges of the tax code, mirroring his analytical approach to both life and business. Despite starting with no tax background, Terry's tenacity and dedication propelled him forward, leading to a fulfilling career in real estate and tax advisory.

Join us as Terry shares his compelling story driven by a passion for innovation and a commitment to helping others achieve financial success. From his early career in mechanical engineering to founding CORE, a leading tax and advisory solutions company, Terry's path is marked by resilience and a relentless pursuit of excellence.

In this episode, Terry delves into the intricacies of cost segregation, emphasizing the importance of strategic tax planning and leveraging specialized knowledge to maximize tax benefits. From uncovering niche tax strategies to maximizing depreciation through cost segregation studies, Terry's insights offer a roadmap for both seasoned investors and those new to the field.

Moreover, Terry sheds light on the nuances of cost segregation, sharing tactics for maximizing tax savings and profitability while emphasizing the significance of detailed audit trails and comprehensive studies.

If you're looking to unlock the secrets of tax-efficient real estate investing and harness the potential of cost segregation, this episode is for you. Tune in now!

HIGHLIGHTS OF THE EPISODE:

09:51 - Terry talks about conducting a cost segregation study and what it can do for investment properties.

16:15 - Terry talks about how to be eligible for cost segregation

KEEPING IT REAL:

04:00 - How cost segregation integrates legal, engineering, and tax components

06:00 - Accelerated depreciation benefits

10:10 - The impact of cost segregation on investment properties

13:00 - How depreciation works in real estate

15:30 - Eligibility for cost segregation and investment properties

24:20 - Impact of holding periods on cost segregation

30:10 - Depreciation benefits for different property types

34:00 - Changes in bonus depreciation over the years

39:00 - Tax benefits for real estate professionals vs. limited partners

45:30 - Importance of having a good team and specialized CPA

54:32 - We are OUT!

CONNECTING WITH THE GUEST

Website: https://coresolutionsgroup.net/

Linkedin: https://www.linkedin.com/in/coresolutionsgroup/

Instagram: https://www.instagram.com/terry_judge/?hl=en

Email: [e-mail]

#CostSegregation #RealEstateTax #TaxBenefits #RealEstateInvesting