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Unlock Your Passive Lifestyle

Unlock Your Passive Lifestyle

著者： Tommy Thompson
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What if your investments paid for the lifestyle you actually want? Unlock Your Passive Lifestyle explores the tax strategies, real estate tools, and passive income plays — from 1031 exchanges to Delaware Statutory Trusts — that help accredited investors build wealth and buy back their time.Copyright 2026 Tommy Thompson マネジメント マネジメント・リーダーシップ 個人ファイナンス 経済学
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  • 100% Bonus Depreciation Is Back - Permanently. Here’s the Cost Seg Playbook for 2026

    100% Bonus Depreciation Is Back - Permanently. Here’s the Cost Seg Playbook for 2026
    2026/07/15
    Episode Summary

    Cost segregation expert Richmond Stacker (CEO, USA Cost Segregation) joins Tommy Thompson and Justin Kiehne to unpack the tax code’s most powerful real estate tool. This episode covers the cost segregation fundamentals, why the short-term rental “loophole” is a trap, the recapture arbitrage most investors miss, and how the One Big Beautiful Bill made 100% bonus depreciation permanent starting January 19, 2025.

    Key Takeaways

    • Cost seg = an engineering study that reclassifies building assets into 5-, 7-, and 15-year property, front-loading 30–40% of your basis into year-one deductions.

    • 100% bonus depreciation is BACK — and permanent — for property placed in service on or after January 19, 2025 under the OBBBA.

    • QIP expensing (HVAC, roof, flooring) sunsets Dec 31, 2029. That piece isn’t permanent — the clock is ticking.

    • Not for everyone. Skip cost seg on properties under ~$500K, on properties you’re about to sell, or when you already have losses.

    • The short-term rental “loophole” is a trap. 100-hour material participation, no property manager, no 7+ day stays — most investors don’t actually qualify.

    • Recapture is real, but so is the arbitrage. Offset income at 37%, recapture at 25%, and use a 1031 exchange to eliminate it entirely.

    • Bought property in 2022–2024 without doing cost seg? Not too late. A Form 3115 catch-up can convert taxes owed into a refund.

    • The math checks out. One client paid ~$7K more for a proper study and captured an additional $400K in tax savings.

    Chapters

    00:00 Intro — why cost seg is the most powerful tool you’re not using

    02:00 How to explain cost seg at a cocktail party

    04:00 Straight-line vs. accelerated — the $1M property math

    09:00 Who’s a good candidate (and who isn’t)

    19:00 The short-term rental trap

    28:30 Recapture, arbitrage, and the 1031 escape hatch

    33:00 Richmond’s origin story

    34:00 Why cost seg is tax code, not a loophole

    38:00 100% bonus depreciation and the One Big Beautiful Bill

    44:00 The January 19, 2025 line in the sand

    47:00 Form 3115 catch-up for 2022–2024 properties

    52:30 ROI: $7K spend, $400K in tax savings

    54:00 What’s next for the industry

    About the Guest

    Richmond Stacker

    Founder & CEO | USA Cost Segregation

    Richmond is Founder & CEO of USA Cost Segregation, a national engineering-led cost seg firm. A former mortgage broker who taught himself the tax code, he built his first proprietary cost seg software in 2019 and runs a team known for fast turnarounds and candid advisory — including telling clients when NOT to do a study.

    Contact: info@usacostsegregation.com | usacostsegregation.com

    KeywordsPrimary

    cost segregation • 100% bonus depreciation • One Big Beautiful Bill • OBBBA • real estate tax strategy • bonus depreciation permanent

    Secondary & Long-Tail

    Section 168(k) • depreciation recapture • 1031 exchange • real estate professional status • Form 3115 • short-term rental loophole • QIP expensing • accelerated depreciation • USA Cost Segregation • Richmond Stacker • cost seg for 2022–2024 acquisitions

    Tags

    real estate, passive income, tax strategy, cost segregation, bonus depreciation, real estate investing, commercial real estate, tax planning

    Disclaimer

    Educational purposes only — not tax, legal, or investment advice. Consult your CPA and a qualified cost segregation firm before initiating a study.
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  • QOZ 2.0 & Complex 1031 Exchanges - The Best Strategy for 2027 and Beyond

    QOZ 2.0 & Complex 1031 Exchanges - The Best Strategy for 2027 and Beyond
    2026/06/16
    Episode SummaryTax attorney and CPA Austin Carlson of Gray Reed breaks down partnership 1031 strategies (drop-and-swap, PIN notes, TICs) and the new Opportunity Zones 2.0 program made permanent under the One Big Beautiful Bill Act. If you own real estate with partners or are planning a business exit, this episode lays out the structures wealthy investors are using to defer — and often eliminate — capital gains tax.Key Takeaways• Solo 1031s are simple. Partnership 1031s require careful planning. When partners have different goals, involving a tax attorney early can help avoid costly mistakes.• A “Drop and Swap” separates partner interests before a sale. Some partners can cash out while others complete their own 1031 exchanges. The IRS closely examines timing and intent.• A Partnership Installment Note (PIN) can help when timing is tight. It allows an exiting partner to receive most proceeds upfront while keeping the partnership intact.• QOZ 2.0 expands tax benefits beyond real estate. Beginning January 1, 2027, gains from real estate, businesses, crypto, and art may qualify for Opportunity Zone benefits.• QOZs preserve basis, while 1031s require full reinvestment. Investors only need to reinvest the gain in a QOZ, which can provide greater liquidity.• A Qualified Opportunity Fund (QOF) can be a backup plan. If a 1031 exchange falls through, a QOF may provide an alternative way to defer gains.Chapters00:00 Intro: Partnership Structuring, OZ 1.0 vs. OZ 2.000:47 Meet Austin Carlson (JD, CPA)02:00 Tax Attorney vs. Accountant04:35 When to Involve a Tax Attorney in a 103107:55 "Drop and Swap" Strategies Explained10:30 Partnership Exit Scenarios and Loan Challenges14:00 Partnership Installment Note (PIN Note)17:55 IRS Intent Rules and Partnership Considerations20:00 When a Tax Attorney Is Worth the Cost23:00 Case Study: $50M Texas Ranch Exchange26:30 Opportunity Zones for Art, Business, and Real Estate Gains28:20 QOZ Origins and Evolution31:00 1031 Exchanges vs. Opportunity Zones35:30 Core QOZ Benefits: Defer, Reduce, Eliminate38:00 QOZ 2.0 and Permanent Tax Incentives40:30 Deferral, Basis Step-Up, and Tax-Free Growth Explained43:00 $1M Gain Example Breakdown44:30 New QOZ Maps and Substantial Improvement Rules47:30 QOZ vs. 1031: Which Strategy Wins?52:00 Timing Rules, K-1 Extensions, and 180-Day Deadlines54:30 Using a QOZ as a Backup for a Failed 103156:00 Creating Your Own Opportunity Zone Fund58:00 Existing Property Owners in Opportunity Zones1:00:00 Wrap-Up and Future DiscussionAbout the GuestAustin Carlson, JD, CPAPartner | Gray Reed & McGraw LLP | Houston, TexasAustin is a tax attorney and CPA at Gray Reed, focused on complex real estate structuring, partnership planning, 1031 exchanges, Opportunity Zone funds, and M&A. Named Houston CPA Society’s “Young CPA of the Year” and a Texas Super Lawyers Up-and-Coming 100 honoree, he serves on the Texas Society of CPAs Federal Tax Policy committee and works nationally with sponsors, family offices, and business owners on transactions from a few million to nine figures.Connect with Austin: grayreed.com/our-people/austin-c-carlsonKeywordsPrimaryOpportunity Zones 2.0 • One Big Beautiful Bill • Drop and Swap 1031 • 1031 exchange partnership • Qualified Opportunity Fund • OZ 2.0 • capital gains deferral • OBBBA opportunity zonesSecondary & Long-TailSection 1031 • TIC exchange • PIN note • partnership installment note • swap til you drop • QOF • OZ vs 1031 • sell business defer capital gains • baby boomer business exit • new opportunity zone map 2026 • build your own opportunity zone fundTagsreal estate, passive income, tax strategy, 1031 exchange, opportunity zones, partnership tax, real estate law, M&A, business exit, capital gainsDisclaimerThis is for informational purposes only, does not constitute individual investment advice, and should not be relied upon as tax or legal advice. Please consult the appropriate professional regarding your individual circumstance.Because investor situations and objectives vary this information is not intended to indicate that an investment is appropriate for or is being recommended to any individual investor.There are material risks associated with investing in private placements, Delaware Statutory Trusts ("DSTs") and real estate securities including the potential loss of the entire investment principal, illiquidity, tenant vacancies impacting income and revenue, general and real estate market conditions, lack of operating history, interest rate risks, competition, including the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and investors should read the PPM carefully before investing paying special attention to ...
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  • The 100-Year-Old Tax Secret Most Investors Don't Understand | EP 1

    The 100-Year-Old Tax Secret Most Investors Don't Understand | EP 1
    2026/05/19
    In this episode of Unlock Your Passive Lifestyle, Tommy Thompson and Justin Kiehne dive into one of the most powerful - and most misunderstood - tools in real estate investing: the 1031 exchange. Whether you own a single rental condo or a multi-million-dollar commercial portfolio, this conversation covers what you need to know before you sell.What You’ll LearnThe basics of Section 1031 — a 100-year-old section of the tax code that lets you defer capital gains when exchanging investment real estate for like-kind investment real estateThe real cost of NOT doing an exchange — 20% federal capital gains + state taxes (up to 13% in California) can mean a 30%+ haircut on your equityThe critical timelines — day 0 (closing), day 45 (identification deadline), day 180 (purchase deadline), and why weekends and holidays countThe three identification rules — with a deep dive into the three-property rule and why you should always use all three slots as “parachutes”The three rules for a fully tax-deferred exchange — equal or greater purchase price, reinvest all equity, and replace all debtNet lease vs. DSTs — the pros and cons of owning a single Home Depot or Walgreens versus buying a fractional interest in a diversified portfolioKey Timestamps00:00 — The misunderstood 1031 exchange02:03 — The real math on a $1M sale: $300K–$400K in taxes to Uncle Sam05:24 — Prep work and the qualified intermediary07:50 — The 45/180 day clock and why end-of-year sales are dangerous09:37 — The three identification rules (and the “parachute” strategy)11:00 — Justin’s $10M Marina horror story15:29 — The three rules for a fully tax-deferred exchange18:15 — Like-kind, explained: it’s broader than you think19:05 — Farm land → mobile home parks (a real client story)21:02 — Net Lease 10125:40 — DSTs: institutional real estate in $100K slices29:02 — For the business-owner: sell the business and 1031 the real estate32:27 — Passive lifestyle & real estate retirementWho This Episode Is ForReal estate investors considering a saleBusiness owners prepping for retirementBaby Boomers planning their real estate exitGrowth investors using 1031s to build wealth fasterBrokers, CPAs, and attorneys looking for client strategiesThis is for informational purposes only, does not constitute individual investment advice, and should not be relied upon as tax or legal advice. Please consult the appropriate professional regarding your individual circumstance.Because investor situations and objectives vary this information is not intended to indicate that an investment is appropriate for or is being recommended to any individual investor.There are material risks associated with investing in private placements, Delaware Statutory Trusts ("DSTs") and real estate securities including the potential loss of the entire investment principal, illiquidity, tenant vacancies impacting income and revenue, general and real estate market conditions, lack of operating history, interest rate risks, competition, including the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and investors should read the PPM carefully before investing paying special attention to the risk section.Risks associated with 1031 exchange- A 1031 exchange has an identification period of 45 days from the sale of the relinquished property to identify a potential replacement property or properties depending on the value of the previous property. To defer all capital gains tax, you must reinvest the entire net proceeds from the sale of the relinquished property into the replacement property and acquire debt on the new property that is equal to or greater than the debt on the property that was just sold and relinquished.DST 1031 properties are only available to accredited investors which are typically defined as having a $1 million net worth excluding primary residence or $200,000 income individually/$300,000 jointly of the last two year.The rules and regulations of the Qualified Opportunity Zone (QOZ) Program are complex, and compliance with the QOZ Program comes with significant challenges such as appreciation unpredictability, certain neighborhoods may be less accommodating to development, illiquidity for up to ten or more years, availability and cost of construction and development financing uncertainty, development and redevelopment real estate risks, as well as a number of Jobs Act interpretation uncertainty which may impact future risks, if any.Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Fortitude Investment Group, LLC is independent of CIS.
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    36 分
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