In this conversation, John Hanning from STG discusses the intricacies of cost segregation and its benefits for real estate investors. He explains how his engineering background plays a crucial role in maximizing tax deductions through accelerated depreciation. The discussion also covers the importance of specialized knowledge in navigating the tax code, the diverse asset classes that affect tax implications, and the consultative approach STG takes with clients. John shares insights from his career journey, the challenges of transitioning from a technical expert to a business owner, and the value of having advisors in the entrepreneurial landscape. The conversation concludes with John's future plans for STG and reflections on the growth of their services.

Takeaways

• Cost segregation allows for accelerated depreciation deductions.
• Understanding the tax code is crucial for maximizing deductions.
• Specialists can provide deeper insights than general accountants.
• Different asset classes yield different tax implications.
• Consultative approaches can uncover additional opportunities for clients.
• Building relationships is key to business success.
• Transitioning to business ownership involves new challenges and responsibilities.
• Advisors play a critical role in navigating business complexities.
• Progress in business is often messy and nonlinear.
• Future growth may involve mergers and acquisitions.

Connect with John HERE

Connect with Jarrod HERE

You can find more on Specialty Tax Group or get in touch for more info HERE

This Episode is sponsored by Excelsior Capital. To learn more about the firm please visit our website HERE.

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