Enjoy The Same Tax Advantages That The Giant Oil Companies Do.

Greetings and Salutations From Gas Land!

In this special mid-week edition of Fuel for Thought, I wanted to share the strategies and tactics that the largest global oil & gas companies use to lower their tax burdens and turbocharge their earnings and to let you know that we - the smaller players in the fuel business - have access to the same tax strategies and benefits!

And I wanted to share more details of my partnership with ReCostSeg and their team, which includes Melanie Baldridge (@recostseg on Twitter), her husband Mitchelle Baldridge (@baldridgecpa), and investor Nick Huber (@sweatystartup), which will allow us to implement these strategies just as well as the Big Guys do!

Imagine getting a million-dollar or more write-off on your taxes this year. This isn't a gimmick, it's not even a loophole. It was made official by a law that went into effect more than 6 years ago.

If you ever wondered why oil tycoons get rich so fast, well, now you know. They're saving millions of dollars on taxes and you can too.

Here's how:

The Tax Cuts & Jobs Act of 2017 significantly changed the rules for how bonus depreciation was calculated by allowing businesses to immediately write off 100% of the cost of eligible property acquired and placed in service after September 27, 2017 and before January 1, 2023. Prior to the passing of TCJA, only 50% of those expenses could be written off.

And gas stations are one of the few assets that can take advantage of this!

There are two parts to the law that are important to the gas station investor. The first is bonus depreciation, and the second is cost segregation.

#1 Bonus Depreciation

Although the bill has become law, few want you to know about 100% bonus depreciation on gas station assets. That's how powerful this law is! If you bought a qualifying gas station, you could have written off 100% of the asset. Today, you can still write off 80% of most of the assets in 2023. That is MASSIVE. However, the sun is setting on the 80%, and next year the depreciation will go down to 60%, so plan now because time is running out!

#2 Cost Segregation

I've been having cost segregation studies done on my properties for many years and it's a complete game-changer in reducing your tax bill every year and increasing your cash flow.

The average gas station owner can recover between $50,000 to $100,000 in federal income tax savings for every $500,000 worth of gas station facilities. These are not random numbers; these are actual savings generated for gas station owners applying cost segregation. I'll give you more: According to the American Society of Cost Segregation Professionals, a $1,000,000 cost seg study can generate around $300,000 in net present value benefits. This is approximately 30% of the investment value!

If you'd like to take advantage of my special partnership with ReCostSeg and learn how much you can save on taxes through accelerated depreciation and cost segregation studies, click here to find out now for free.

And if you'd like to read more about this, please go to my website and read the latest post.

GBG