Dealing with things like depreciation, tax deductions, and cost segregation, can feel overwhelming and inaccessible as a first-time real estate investor, but it doesn’t need to be. Today on the show we chat with Erik Oliver, a Cost Segregation Expert and Regional Manager with Cost Segregation Authority, a company that specializes in Cost Segregation studies. We talk with Erik about how he pivoted to pursue this area of real estate and why he finds so much satisfaction in helping people save on their taxes. Tuning in you’ll hear Erik break down the role of depreciation in real estate, the mechanics of how it works, and how you can capitalize on it under the current tax laws. We also discuss when you can implement a cost segregation study based on the value of your property as well as other elements of your investments. Erik shares his advice for anyone looking to make a career change, as well as insights into how he maintains momentum in his work while raising young kids and making time to spend with his family. We had a great conversation with Erik, and if you’re interested in learning more about cost segregation, depreciation, and tax deductions, make sure you tune in today! Key Points From This Episode: Introducing today’s guest Erik Oliver a Cost Segregation Expert and Regional Manager with the company, Cost Segregation Authority.An overview of the Tax Cuts and Jobs Act and how that relates to cost segregation.Some of the motivations behind the Tax Cuts and Jobs Act.The standard depreciation that accumulates when you buy a building.The benefits of depreciation and why it doesn’t apply to land.A breakdown of cost segregation and the role it plays in depreciation.How cost segregation can accelerate depreciation.The IRS approved guidelines that cost segregation experts use in their processes.The difference between how personal property and real estate depreciates.The different approaches companies can take to evaluate a property’s worth.How a lookback study allows you to reevaluate the value of your property and incorporate a cost segregation study years after you acquired it.Insights on when to implement a cost segregation study depending on the value of your property and other aspects of your investments.A breakdown of what bonus depreciation means and how it relates to cost segregation.Erik’s advice to listeners who are considering a significant career change, particularly towards real estate.What Erik does to maintain a balance between the momentum in his career and having a family and young kids at home.  Links Mentioned in Today’s Episode: Cost Segregation Authority Erik Oliver on Linkedin Limitless Estates Passive Income Through Multifamily Real Estate Facebook Group