The Golden Ticket to Real Estate Wealth: Depreciation & Cost Segregation with Eric Oliver

Mastering Real Estate Tax Strategies with Eric Oliver: Depreciation & Cost Segregation Explained

Welcome back to another episode of the Passive Income Adventures! In this episode, host Emma Powell talks with Eric Oliver, a depreciation and cost segregation expert, about the importance of achieving real estate professional status and the tax benefits of real estate investments. Eric dives deep into the nuances of depreciation, cost segregation, and bonus depreciation, explaining how these strategies can help significantly reduce tax liabilities. He also discusses the impact of real estate professional status on using these deductions and shares his personal journey in leveraging tax strategies to build wealth through real estate. Whether you're an active investor or just starting, this episode is full of valuable insights on maximizing tax savings in real estate.

Bio:
Erik Oliver holds a Bachelor of Applied Science in Accounting from Westminster College. Before joining Cost Segregation Authority, Erik was an Operations Manager for a multi-million dollar landscaping and design firm in Long Island, NY. Since heading west and joining the Cost Segregation Authority, Erik has been speaking at local, regional, and national events. He brings with him a passion for identifying cost savings and educating commercial real estate owners on the benefits of cost segregation.

Connect:
http://www.costsegauthority.com/

00:00 Introduction to Real Estate Professional Status
00:10 Meet Eric Oliver: Depreciation and Cost Segregation Expert
01:14 Emma Powell's Passive Income Adventures
01:56 Understanding Depreciation in Real Estate
02:44 Eric Oliver's Journey into Cost Segregation
07:30 Real Estate Professional Status Explained
09:36 Active vs Passive Income in Real Estate
16:03 Short-Term Rental Loophole and Tax Strategies
29:02 Understanding Straight Line Depreciation
29:06 Accelerating Depreciation with Cost Segregation
29:13 The Benefits of Front-Loading Deductions
29:43 Engineering-Based Studies for Cost Segregation
29:51 Identifying and Categorizing Building Components
30:54 Accelerated Depreciation Explained
31:21 Bonus Depreciation: Supercharging Cost Segregation
32:08 Tax Cuts and Jobs Act Impact
33:41 Bonus Depreciation Phase-Out and Legislative Updates
36:27 Real Estate Investing and Tax Strategies
38:09 Who Should Consider a Cost Segregation Study?
42:16 Depreciation Recapture: The Hidden Cost
46:41 Real-Life Examples and Investor Insights
48:55 The Importance of Networking and Continuous Learning
53:44 Planning for Retirement and Passive Income
55:48 Leveraging W2 Jobs for Investment Knowledge
57:53 Final Thoughts and Contact Information