THIS IS THE ADVERTISEMENT I WAS TALKING ABOUT…

THIS IS THE ADVERTISEMENT I WAS TALKING ABOUT… PART I OF II... A little over a week ago, I posted an article that was entitled, “BE AFRAID, BE VERY AFRAID.” And it was about an advertisement that I found on Facebook that said, and I quote: “tax planning can save you at least $20K on your taxes as a Realtor”. And the advertisement refers to their tax planning. How can you make that statement on without first knowing how much the “client” earns and their legitimate deductions? I cannot figure out how they will save the “client” $20,000 without knowing anything about the “client”!!! And realize that these two Certified Public Accountants, who could be great CPAs and income tax preparers, should never have said this because it gives the “client” expectation that they just cannot meet unless the “client” is someone who has been living in a desert hideaway with no contact with the outside world since birth!!! And now, let’s assume that they tell you when you call that they can only do this for you if you own a piece of Commercial Real Estate you paid a lot of money for. They will have a licensed company perform a Cost Segregation Study, my area of expertise, and get you tens of thousands of dollars in five-year, seven-year, and 15-year assets and take 100% Bonus Depreciation on it, which you cannot do since Bonus Depreciation is being phased out. For the calendar year 2023, you could only take Bonus Depreciation at 80% of the cost up to $800,000. You only DEFER income taxes by doing a Cost Segregation Study; you do not save income taxes. It actually works out to be an interest-free loan from the Internal Revenue Service. You SAVE income taxes if you do a Cost Segregation Study when you SELL the property. It allows you to convert ordinary income into Capital Gain income, possibly saving you up to 17%. My name is Paul Levine, and I am a Commercial Realtor, a Real Estate Advisor, an Investment Advisor, an Income Tax Consultant, an Author, and a Residential Realtor of luxury homes in Southern California!!! I was also a University Professor for 6 ? years. So, I also want to teach you something and hope to learn something from you, my audience!!! You can call me at (818) 298 – 4000 after 10 AM Pacific Time Monday through Friday and, yes, even on the weekends. Or you can send an email to me at [email protected], and I will always try to answer you in a timely manner.