CPA TELLS MY DENTIST FRIEND NOT TO INVEST IN THE DEAL

[Richard Belliveau]

I just was shocked when I heard from my dentist friend today. He had met with his CPA and the CPA told hime since he was making a lot of money and also owned the building his practice was in- he is not entitled to any special cost segregation or excellerated depreciation on the real estate about to be acquired because of his income he has!

According to the IRS code he told me that the depreciated asset or the write off or deductions are based on a % of income- not on a dollar per dollar write off- but as a % of income!

Has anyone heard of this before- because I research the cost segregation and thought anyone that bought a property can depreciate the asset after a cost segregation analysis from accountant or special servicer armed with full knowledge of IRS CODE. This depreciation can  be rapid if qualified and it would be possible to depreciate instead of 27.5 years in only 6 or 7 years. so deductions would be way higher.......... Thoughts? Can not wait to hear about this and I hope I explained it right...

Richard