Saving on tax can make a big difference to any investor or operator, but getting clear on where these savings can occur can be a little tricky for the best of us. Here to shed some light on this evolving landscape is Terry Judge from CORE Solutions Group, the company he founded to help clients make the most of the tax laws of any given time. In our conversation, he goes through the basics of cost segregation, bonus depreciation, and everything in between.
Our gracious sponsor:
Gene Trowbridge and Jonathan Nieh, founding partners of the top syndication firm Trowbridge Law Group LLP have a legal team with over 50 years of combined experience in real estate syndication and the practice of real estate securities law. Over this time Gene and his partners, in several past firms and currently, have helped clients raise close to $5.0 billion dollars in offerings by empowering entrepreneurs to raise capital legally. To learn more about Trowbridge Law Group LLP, visit our website at www.trowbridgelawgroup.com or follow us on Facebook, Instagram, or Twitter.
Watch the episode here:
Listen to the podcast here:
Terry also comments on what the 2020 election might mean in terms of taxes and investors, a very important subject for all listeners to learn about! Our guest does a great job of unpacking how cost segregation can save money for investors in the short and long term and explains the process of conducting a cost-seg study and the best times for these. We do our usual round-up of personal questions with Terry, with him sharing his daily habits, approach to self-discipline, and the part that charity work plays in his life. Make sure to catch it all by tuning in today!
Key Points From This Episode:
- A little bit about the history of CORE Solutions Group and what they do.
- Unpacking the basics of cost segregation and its importance for investors and operators.
- Getting to grips with bonus depreciation and how it plays out over a number of years.
- Ways that cost segregation works for different types of investors.
- The scenarios attached to cost segregation and the best times for the enactment of a study.
- Terry’s thoughts on the 2020 Presidential Election and its possible outcomes.
- Mistakes and missteps that can hinder the process of cost segregation.
- Ways to approach the vital level of self-discipline required to be successful.
- The daily habits that have helped Terry achieve so much in his career.
- The recent improvement that Terry made to his business that moved the needle.
- How consistency has contributed to Terry’s success!
- The charities that Terry likes to support as a means to give back.
- How to get in touch with Terry and utilize his company’s great services!
[bctt tweet=”There was just this major gap between the real estate investor, the CPA community and the IRS. — Terry Judge” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Terry Judge
Terry Judge is the Founder and CEO of CORE Solutions Group, LLC. He is the visionary behind the brand and oversees much of the growth and strategic business planning. Terry has an extensive entrepreneurial background with over 25 years in business ownership and is one of the early adopters of engineering-based cost segregation studies, as well as other highly specialized tax credits and incentives. He has a passion for educating people in the commercial and multi-family space on how to maximize cash flow and take full advantage of the ever-changing tax code. Terry speaks nationally and has published several white papers on the magic of cost segregation. Terry has both a tax and engineering background and over the last 14 years, along with his team, have completed thousands of engagements that have yielded over a billion dollars in net tax savings. Today, Terry and his firm CORE, are blessed to work with so many of the top accounting, real estate firms as well as the brand new investor who just purchased their first multi-family investment property!
Love the show? Subscribe, rate, review, and share!
Join the Real Estate Syndication Show Community: