Chicago Rehabbers Can Be Saving Tens Of Thousands Dollars With Cost Segergation

Cost Seg Kev Explains How Chicago Rehabbers Can Be Saving Tens Of Thousands Dollars Chicago’s Own Kevin Cawley Breaks Down Cost Segregation for Investors Episode Category: Buy and Hold Rentals, Cost Segregation, Tax Strategy, Depreciation, Write-Offs, Recapture Kevin Cawley, aka Cost Seg Kev, is a Senior Account Executive at CSSI Services - a firm with over 55,000 cost segregation studies completed since 2003. Cost Seg Kev starts by reviewing the 101 on cost segregation and how it can be used to offset your tax liability. He dives into the benefits of real estate professional status and recent tax code changes by the presidential administration. He also touches on frequently asked questions on cost segregation studies and closes with how he built his business and reputation! 00:00 Straight-line depreciation vs. accelerated depreciation explained 05:05 Residential vs. commercial depreciation timelines for tax purposes 07:12 Breaking down a $1.2M four-unit example 08:49 IRS origins of cost segregation in the late ’90s 10:58 Time value of money and strategic timing for cost seg studies 12:30 Real estate professional qualification and benefits 15:19 Short-term rental loophole for W2 earners 17:46 Recapture rules and “defer, defer, defer, die” wealth strategy 23:15 Depreciation resets for new owners after a sale 25:04 Bonus depreciation phase-out and January 19, 2025 rule change 28:20 Cost seg on older properties and post-purchase look-back studies 30:23 Rehab vs. turnkey purchases and similar benefits 31:18 Phase one/phase two studies for ongoing rehabs 32:19 Cost seg value on smaller properties 34:04 Kev’s free online cost seg calculator tool 35:30 IRS-approved drywall tape and its tax benefits 40:23 Why Kev answers his own phone and works directly with investors 42:56 Networking through trusted advisors instead of cold-calling owners 44:58 Partnering with experienced investors for your first deal 45:11 Kev’s hobbies, guitar, piano, and golf 45:45 Recommended book: At Your Command by Neville Goddard 46:28 Shoutout to CPA James Mayan as a valuable resource for investors 47:27 How to connect with Kev and bring him new strategies If you enjoy today’s episode, please leave us a review and share with someone who may also find value in this content! Join us as we share our winning strategies, success stories, obstacles we've encountered, and most importantly, the lessons we have learned along the way. If you are ready to learn the ins and outs of the investing in Chicago and suburbs. SUBSCRIBE: http://ow.ly/pNzU50BFJtU Got an idea for the show? Shoot us an email at straightupchicagoinvestor@gmail.com Follow us behind the scenes on Instagram: http://ow.ly/lquy50BGadL Make our acquaintance on our Club: http://ow.ly/RZvr50BGaei Give us a shout on Facebook: http://ow.ly/Qqr350BGaeM Visit our world directly: https://www.straightupchicagoinvestor.com/ Listen to the 𝗦𝘁𝗿𝗮𝗶𝗴𝗵𝘁 𝗨𝗽 𝗖𝗵𝗶𝗰𝗮𝗴𝗼 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗣𝗼𝗱𝗰𝗮𝘀𝘁 on your favorite streaming service: http://ow.ly/lI7050BGafp