Weiss Advice
Weiss Advice
Uncovering The Tax Benefits Of Car Wash Businesses With Kriss Berg
Do you want to learn how car wash businesses can benefit you? In this episode of Weiss Advice, we welcome Kriss Berg. Kriss talks about how he got started in the business world and began investing in a variety of industries including construction, solar, online businesses, real estate, newsletters, and e-commerce. Despite the risks associated with these businesses, one venture that Kriss found particularly lucrative was the car wash business.
Tune in to this episode as Kriss provides his insights on everything related to the car wash business and another business idea that he is exploring!
[00:01 - 01:36] Opening Segment
- We welcome, Kriss Berg!
- Kriss is the Car Wash Guy
[01:37 - 23:49] Uncovering The Tax Benefits Of Car Wash Businesses
- He got into the car wash business when he realized the potential of cap rate and value increase in real estate
- Reached out to an accountant for tax liability
- Car wash is the perfect bonus depreciation vehicle
- Car washes simple businesses
- Targeting self-serve/touch-free combination car washes
[23:50 - 30:56] THE FINAL FOUR
- What's the worst job that you ever had?
- Worked at a veterinary clinic
- What's a book you've read that has given you a paradigm shift?
- “Rich Dad, Poor Dad” by Robert Kiyosaki
- What is a skill or talent that you would like to learn?
- To be able to sing
- What does success mean to you?
- Kriss says, “Freedom from stress and bad feelings around money. “
Connect with Kriss Berg:
Website: Tax Free Cash Cow
Twitter: @krissbergtweets
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Tweetable Quotes:
“It's a simple business. I think real estate people look at car washes and think that they're complex. and if you looked at a car wash, you'd think it's easy.” – Kriss Berg
“Car wash is almost ideal because it's a very unique combination of fairly low land value with very high value in the buildings and equipment and improvements, which is what is eligible for bonus depreciation.” – Kriss Berg