Fri, 8 December 2023
In a meeting between Kerry Lutz and Gerald Celente, the impact of the COVID-19 pandemic on the real estate and banking industries was discussed. With remote work becoming more prevalent, people are leaving cities, leading to a decrease in occupancy rates and an increase in vacant buildings. This will result in owners of these buildings defaulting on their mortgages, leading to a banking crisis. The pandemic has also led to the decline of cultural centers and trade centers in cities, with businesses that depend on commuters going out of business. The rise of crime and homelessness in cities is also contributing to people leaving. The conversation highlights the interconnectedness of the global economy and the consequences of political decisions on economic growth. The discussion also touched on the decline in manufacturing numbers and how it will lead to a decrease in consumer buying. They also talked about the unsustainability of the current population growth and how it will affect the economy. The conversation then shifted to the potential risks to Bitcoin, including government intervention, and recommended investing in real estate as a long-term play. Finally, they predicted that holiday sales will be weak and that the markets will go down after the new year, and urged investors to be cautious in their financial decisions. The negative impact of urbanization on cities globally was also discussed, with a focus on the United States. They suggested that de-urbanization may be a positive outcome of current events. Visit Gerald at TrendsJournal.com Visit Kerry at FSN
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Fri, 8 December 2023
The meeting discussed the benefits of cost segregation studies for real estate investors looking to save money on taxes. Joseph Viery from US Tax Advisors Group explained that the study identifies shorter life assets of a property and calculates the correct cost to them, which can be written off against taxes. Viery provided an example of how a $250,000 cost segregation study can cut a $500,000 taxable income in half. He also explained that the study is an engineering-based process that calculates how much accelerated depreciation the taxpayer is entitled to. The meeting also discussed how the process has become much easier and doesn't require an on-site review, and that they provide a no-cost estimate for the process. The meeting also discussed how cost segregation studies can benefit condo owners, although the process is slightly different and costs $100 more. Viery emphasized that tax savings can be used to improve properties or buy more property, and that the investment is recommended if it can save investors 10 times his fee. Overall, the meeting provided valuable information for investors looking to save on taxes through cost segregation, including the fact that the IRS guarantees the process and that they offer a free estimate of potential savings. |
