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E336: The Power of Depreciation - Steven Pesavento

E336: The Power of Depreciation - Steven Pesavento

FromThe Investor Mindset - Name Your Number Show [$]


E336: The Power of Depreciation - Steven Pesavento

FromThe Investor Mindset - Name Your Number Show [$]

ratings:
Length:
11 minutes
Released:
Dec 6, 2022
Format:
Podcast episode

Description

Depreciation typically implies loss but in terms of real estate it actually can become a benefit to you.   Steven takes you through the different types of depreciation and how you can use it to your advantage as the year comes to an end and tax season begins.   Please note that these are tips based on experience and you should seek the legal advice of  your CPA first to see if you can take advantage of any of the tips shared. Key TakeawaysDepreciation allows a business or an individual to recover the costs of an investment over a set period of years. So when you're making an investment, you're able to recapture that investment that you made, back as depreciation.When you're investing in a piece of commercial property, depreciation will show up as a loss of money, however you didn't really lose money as you're able to have that as a write off that reduces your taxable income.The incentive of not paying taxes upfront, and deferring that to a future date, allows for a greater return, and ends up being a better choice overall.The practice of “buy until you die” can defer taxes indefinitely, even upon inheritance to your family. Resources MentionedInterested in connecting with other like-minded individuals? Then join our VonFinch Private Capital Network.  Learn more at http://www.vonfinch.com/invest. 
Released:
Dec 6, 2022
Format:
Podcast episode

Titles in the series (100)

What does it take to succeed when others fail? We explore the stories on Investing that you don’t often hear: The trials and challenges that lead to success and the Mindset it takes to make it. We’ll learn from some of the best investors and entrepreneurs, learning through fire-walking their experiences so we can each setup up our game and be our best self. We focus 80% on the motivation & mindset that leads to success, and 20% on the investing strategies & tactics that get us there. About The Host: Steven Pesavento Real Estate Investors & Entrepreneur has always been obsessed with understanding how we can think better, how we can be better and how we can do better. He fought against those limiting beliefs, that held him back and jumped in to Real Estate with no experience. By modeling the mindset & actions of leaders he looked up to, his Real Estate investing his business exploded, buying 150 houses in his first two years, over $22 Million in real estate transactions. Personal development for real estate investors. Model the top real estate investors, house flippers, multifamily syndicators, wholesalers and landlords. We invite guests from all industries to share their mindset with our incredible community. Join the insider club at: https://TheInvestorMindset.com IG @Investormindset https://Facebook.com/theinvestormindset