Unlock the full potential of tax benefits for commercial real estate (CRE) with this definitive guide from "Commercially Speaking." In a special episode crafted by Timmy Barron, we've merged two pivotal tax discussions to create a comprehensive and easy-to-follow roadmap for CRE professionals and investors. This episode amalgamates insights from an initial breakdown provided by Bo Barron in February 2023, where he explains complex tax benefits to Timmy, then a CRE novice, with a deeper dive by CPA Kevin Bassett in February 2024, offering updates and potential changes in tax law. What You'll Discover: Tax Breaks Uncovered: Learn about the lesser-known yet highly lucrative tax advantages available to CRE investors and how to leverage them effectively. Step-by-Step Guide: Whether you're a seasoned professional or new to CRE investing, this episode walks you through the tax benefits with clarity and precision, ensuring you can apply this knowledge practically. Latest Law Updates: Stay informed with the most recent updates in tax legislation affecting CRE, as explained by expert CPA Kevin Bassett, and understand how these changes could impact your investment strategies. Expert Strategies: Gain insights into strategic tax planning tailored for CRE investments, helping you to maximize returns while minimizing liabilities. This episode is an invaluable resource for anyone involved in CRE looking to deepen their understanding of tax implications and optimize their financial outcomes. Bo and Timmy, along with expert insights from Kevin Bassett, ensure that you have the information needed to navigate the complexities of CRE taxes confidently. Tune into this ultimate tax guide on "Commercially Speaking" and transform your approach to CRE investments with expert knowledge and strategic advice. CONNECT WITH KEVIN BASSETT, HIS NEWSLETTER AND LEARN MORE: https://www.bassettcpas.com/ ⏰Time Code⏰ 00:00 - Start 01:36 - 4 Reasons To Own Real Estate 01:51 - 1. Appreciation 02:04 - 2. Depreciation 04:00 - 3. Cash Flow 04:18 - 4. Equity 05:00 - Proper Structures For CRE Incomes 06:32 - The Holy Grail Of Tax Strategies - Cost Segregation Study 08:35 - Cost Seg Explanation From A CPA 09:59 - The Secret of Bonus Depreciation 12:33 - Real World Example of the Cost Seg Strategy 14:22 - Bonus Depreciation Sunset 14:53 - Tax Law Update 16:03 - Passive vs Active Income 16:37 - Depreciation Benefit of Real Estate Professionals 17:06 - Tax Rules For Real Estate Professionals 18:19 - It’s Not Too Late 19:32 - Depreciate The Bank’s Dollars! 20:18 - 1031 Tax Deferred Exchange 22:59 - Cost Seg vs 1031 Exchange 24:05 - Benefits to Planning Ahead 24:23 - The Alternative Strategy to 1031 25:52 - Roll Over Depreciation 26:39 - Investors Can Use Their Bonus Depreciation Indefinitely! 28:26 - 20% Tax Rate Over The Life Of The Project 28:51 - Section 199A 30:15 - When To Do a Cost Seg Study Per A CPA 31:23 - 100% Chance They Will Ask For This In An IRS Audit 📒Show Notes📒 🎉SIGNUP FOR THE WEEKLY NEWSLETTER FOR CURATED CONTENT ON COMMERCIAL REAL ESTATE TRENDS, THRIVING IN BUSINESS AND MORE: https://subscribe.wgbarron.com/?utm_source=newsletter_share Youtube: www.youtube.com/@CommerciallySpeaking Apple: https://podcasts.apple.com/us/podcast/commercially-speaking/id1680750330 Spotify: https://podcasters.spotify.com/pod/show/commerciallyspeaking Amazon Music: https://music.amazon.com/podcasts/ad036303-414c-4e30-9e89-768d30ed3ffb/commercially-speaking Youtube: https://www.youtube.com/@commerciallyspeaking Instagram: https://www.instagram.com/commerciallyspeaking/ Facebook: https://www.facebook.com/commerciallyspeaking Tiktok: https://www.tiktok.com/@commerciallyspeaking Newsletter: https://subscribe.wgbarron.com/?utm_source=newsletter_share Bo is a CCIM Instructor and the owner and operator of Barron Commercial Group servicing Western KY and it's surrounding markets. For all CRE inquiries visit http://www.barroncommercial.com Timm