Tax Benefits – The Truth About Wealth

Investing In Oil And Gas with Don Hosmer (Ep. 97)

By thetruthaboutwealth | December 28, 2022

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Many people have been questioning oil and gas with regard to America’s current politics. Luckily, Don Hosmer from Royale Energy, Inc., is here to provide us with some insight!

In this episode, John and Michael Parise speak with Don Hosmer from Royale Energy, Inc. Don talks about investing in oil and gas. He highlights the benefits of the industry from an investment standpoint, its tax benefits, and opportunities based on its peak demand.

Don discusses:

The fundamental and psychological reasons behind the softness seen in the oil market
The current challenges that the oil industry is facing in the public sectors
The current state of the oil reserve and the life cycle to replenish it
The tax benefits of his investment program and of investing in oil and gas
The risks involved in drilling for oil and gas
And more!

Connect with Don Hosmer:

Connect with John and Michael Parise:

About Our Guest:

Don Hosmer resides in California and is Royale Energy, Inc’s CEO, an oil and natural gas company.

Don started the company with his father in 1986. They started with a team of geologists and engineers and started the company primarily as a natural gas producer.

Approximately three years ago, Royale Energy, Inc. merged with a team of petroleum engineers to form the oil and gas company that is today.

Esoteric Tax Planning Strategies For American Businesses with Matthew Kirk (Ep. 95)

By thetruthaboutwealth | November 23, 2022

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Every business owner wants to save on taxes, and there’s a variety of tax planning strategies available in the US.

In this episode, John and Michael Parise speak with Matthew Kirk from Holland & Knight about an esoteric tax planning strategy that not many American businesses know about. Matthew gives an overview of the tax benefits in Puerto Rico and the Virgin Islands, explains the rationale behind them, and unpacks some of the finer details, cautioning businesses to speak with a proactive financial professional about using this strategy.

Matthew discusses:

An overview of the tax benefits in Puerto Rico and the US Virgin Islands and the differences between the two
The rationale for the tax benefits in both US territories
The importance of discussing the small details and any questions about these jurisdictions with proactive financial professionals
And more!

Connect with Matthew Kirk:

Connect with John and Michael:

About Our Guest:

Matthew Kirk is a private wealth services attorney in the Holland & Knight’s Atlanta office. Matthew focuses his practice on designing and implementing sophisticated wealth planning and transfer strategies for high-net-worth individuals that often combine objectives of tax minimization, wealth preservation, succession planning, and business planning.

Cost Segregation In Real Estate — Part 2 with Isaac Downing (Ep. 93)

By thetruthaboutwealth | October 19, 2022

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Did you know that cost segregation studies can be conducted on commercial and residential properties?

This week on The Truth About Wealth, Isaac Downing, the regional director at Capstan Tax Strategies, is back to unpack everything you need to know about the 1031 Exchange and cost segregation studies within commercial and residential real estate properties. Isaac also outlines the tax benefits these studies can provide to passive and active investors.

Isaac discusses:

The 1031 Exchange as a powerful tool within the real estate arena
How tenants can benefit from cost segregation studies
Ways accelerated depreciation works
Cost segregation studies according to different property types
And more!

Resources:

Connect with John and Michael Parise:

Connect with Isaac Downing:

About Our Guest:

Over the last decade, Isaac Downing has played every role in the cost segregation industry – he’s been an engineer performing studies, an accountant reviewing studies, and a salesperson selling studies. Now he’s bringing that wealth of experience – and the associated unique perspective — to Capstan Tax Strategies.

It’s not typical for salespeople to have accounting and engineering experience, but Isaac is anything but ordinary. A proud Marine, Isaac spent 4 years as a USMC Engineer, and then earned an additional degree in Accounting and Finance.