Cost segregation on owner occupied multi family
I have a lingering question I can not seem to get answered no matter who I contact or research. I can not locate someone in my area familiar with cost segregation and implementing it on my taxes. My current tax guy has no idea what it is and never filed the papers I gave him to implement it on my tax return. I now am starting all over again trying to find out this question.
if I fill out a 3115 and send it to the irs, what are the steps from there? How do I take the numbers from the cost segregation study and implement the numbers onto my taxes. If I send a 3115 will the IRS automatically send me a refund of funds from the years prior? Since I can not find a professional locally to help me, I am trying to do this on my own but there are no step by step instructions on how to implement a cost segregation to my taxes that were already filed. I've owned my multi family for 12 years.
#2 First Time Home Buyer Contributor
- Lender
- Saddle Brook, NJ
Are you currently working with a CPA?
Quote from @Ryan Muska:I do but he's very old school and had no idea what I was talking about and had no idea what the study was that I provided along with 3115.
Are you currently working with a CPA?
I've called about 15 people in my area and must do not know what cost segregation is and the ones that do are not taking new clients.
#2 First Time Home Buyer Contributor
- Lender
- Saddle Brook, NJ
Okay, my only recommendation is to continue looking for a real-estate CPA.
A friend of mine had recommended these people to me: https://www.abercpa.com/industries-we-service/real-estate-cp...
I have not used them, so I do not know the quality of their work, but my friend said they were good!
@Renee Stampone perhaps you should reach out to @Yonah Weiss. Here is his LinkedIn profile link: https://www.linkedin.com/in/cost-segregation-yonah-weiss/
Attorney
- Multifamily Investing Academy
- 877-866-4764
- https://www.multifamilyinvestingacademy.com/
- [email protected]
Quote from @Charles Dobens:It's funny you mention him, I heard him today on a podcast and sent a message!
@Renee Stampone perhaps you should reach out to @Yonah Weiss. Here is his LinkedIn profile link: https://www.linkedin.com/in/cost-segregation-yonah-weiss/
Quote from @Renee Stampone:
Quote from @Charles Dobens:It's funny you mention him, I heard him today on a podcast and sent a message!
@Renee Stampone perhaps you should reach out to @Yonah Weiss. Here is his LinkedIn profile link: https://www.linkedin.com/in/cost-segregation-yonah-weiss/
Thanks for the mention Charles!
Renee, happy to help. I didn't see the message, but feel free.
