All Forum Posts by: Yonah Weiss

 Thanks. You too!

@Mindy Jensen I would love to see some more tutorials on just how to maximize time spent on BP. 

 This article also convinced me to go pro. Honestly, I was just dabbling in BP until I saw this, and took the jump.

Madison SPECS (Specialized Property Engineering and Cost Segregation) is a national cost segregation company. We have a team of engineers and accountants who solely perform these studies.

Do you have any clients:

• Who want to find strategies to lower their income tax
• Have purchased property in the last 5 years (besides for their personal residences)
• Worth over $500,000
• would like more cash-flow

The great thing for you, is we do all of the work. Fully 100% audit protected. We have an alliance program, working with hundreds of CPAs across the country, who use our services to out-source this tax planning strategy for their clients. 

We are one of the largest national firms specializing solely on cost seg.

Our prices are very competitive, and aim to give the best service in the nation.

• A 91,000 square ft. shopping center in Chicago, Illinois. Reclassified $2.5 million out of an $8.5 million depreciable basis resulting in a first six year Net Benefit of $555,000.

• A 67,000 square ft. 65 unit multifamily building in Brooklyn, NY. Reclassified $2.5 million out of a $15.5 million depreciable basis resulting in a first six year Net Benefit of $765,000.

• A 635,000 square foot office building in Miami, Fl. Reclassified $11.3 million out of a $49 million depreciable basis resulting in a first six year Net Benefit of $3.1 million.

Madison SPECS:

• Works with accounting firms across the country
• Has done projects in all 50 states, on all property types
• Has saved over $75 Million in taxes for our clients over the last five years

To find out how we can assist you in helping your client lower their taxes and increase their cash flow via cost segregation, Contact us today to set up a call or meeting to discuss the possibilities.

(732) 333-1477 | [email protected] |Yonah Weiss, Regional Business Director - Madison SPECS

Madison SPECS, LLC, provides expert cost segregation and fixed asset review services. A Cost Segregation study offers a tax benefit analysis of real estate holdings, designed to reclassify real property expenditures eligible for accelerated tax depreciation deductions. Identifying and reclassifying these assets results in a reduced tax liability and increased cash flow.

Madison SPECS has an experienced team of engineers, accountants and tax experts who work exclusively on Cost Segregation studies to ensure that clients obtain the greatest tax benefits from their real estate holdings.

• We work in all 50 states. 
  
• Have saved our clients over $75 Million in taxes over the last five years
  
• Do you want to lower your income tax liability?
  
• Have you purchased property in the last 5 years? (besides for their personal residences)
  
• Do you own property worth over $500,000 (there are definately exceptions, depending on several factors)
  
• Would you like more cash-flow?

We are one of the largest national firms specializing solely on cost seg.

Our prices are very competitive, and aim to give the best service in the nation.

To determine if a cost seg study would be worthwhile, we would be happy to perform a complimentary upfront feasibility analysis. This analysis is helpful in pinpointing the actual income tax savings that would be achieved through a full cost segregation study. 

Contact us today: (732) 333-1477 | [email protected]

I also went pro yesterday. I see tremendous potential from all of the resources. Most of all the incredible peer community and all of their combined experiences.

I can highly recommend @Daniel Hyman , CPA and his firm My Online Accountant, LLC

I know he and his partner are originally from Houston, and have several clients in Houston. They specialize in real estate. Best of luck!

I can highly recommend @Daniel Hyman, CPA and his firm My Online Accountant, LLC 

I know he and his partner are originally from Houston, and have several clients in Houston. They specialize in real estate. Best of luck!

@Larry H. That sounds a little petty to me. I think the billing of a CPA, or any trusted adviser should be based on their time involvement, or flat monthly/annual fees. 

A CPA is not something you are stuck to for life, you should reach out to @Daniel Hyman CPA -My Online Accountant, LLC  They specialize in RE. Best of luck.

@Chad R. Cost segregation can be an excellent tax-strategy to get a very large sum of deductions within the first 5-6 years of owning a property. A couple of questions to know if it is worthwhile:

1. Is the depreciable basis of each house high enough to make a cost seg study worthwhile? (generally I advise at least $500,000 basis, but there are exceptions)

2. Are you planning on holding the properties? If not, even though you will get the tax savings upfront (like an interest-free loan from Uncle Sam), when selling, you will have to pay a depreciation recapture tax (which is usually anyways less that what you would be paying on taxes this year...win-win)

3. Have you done renovations? If so, make sure to hold on to the receipts/construction budget. A qualified cost seg expert will be able to get you accelerated depreciation on the disposed of assets as well as the new replacements.

Feel free to contact me if you have any more questions.

Great question Dave. Like any trusted adviser you have to go with your gut when choosing the right CPA. For me, one meeting is usually enough. But more important, is if the CPA has great recommendations from peers. As a real estate investor, it is also important to find a CPA who is like-minded. Just like he is looking for the best ways to save on taxes for himself, and is constantly learning new ways and strategies, he will likely provide his clients with the same mechanisms. Best of luck.