230: Tom Wheelwright | How To Be A Real Estate Pro, Bonus Depreciation

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 4 March 2019

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#230: It's Rich Dad Month, Week 1 of 4.

If you work at a W-2 job, learn how to reduce your taxes.

Become a “real estate professional”. If you’re married with a stay-at-home spouse, you increase your chances.

To qualify as a real estate professional, RE must be your principal activity and consume at least 750 annual hours.

There are four income types for tax treatment:

1) Earned

2) Ordinary

3) Capital gains

4) Passive

Passive losses are only deductible against passive income.

We’ve recently undergone the most sweeping tax changes since 1986.

Your bonus depreciation benefit was introduced in Trump’s Tax Cuts And Jobs Act - are you taking advantage of it?

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Tom Wheelwright:

www.Wealthability.com

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Transcript

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0:00.0	Welcome to Get Rich Education. I'm your host Keith Weinhold. It's Rich Dad Month here on the show. If you're a W-2 job working employee, well, I'm sorry about that, but learn about how to reduce your tax liability, including through gaining the coveted real estate professional designation. Then learn more about how the new bonus
0:22.2	depreciation rules can knock your tax liability down close to zero with Rich Dad Advisor Tom Weirite
0:28.1	today on Get Rich Education. Learn the easiest way to create wealth and passive income with real
0:35.5	estate. Now you can access the best deals without
0:38.5	the stress or hassle of having to find, renovate, or manage those investment properties.
0:43.1	Nerada real estate saves you time by providing you with passive income investment properties
0:47.6	in some of the best U.S. markets. Learn more at passive real estate investing.com and download
0:52.9	your free copy of the ultimate guide to passive real estate investing.com and download your free copy of the ultimate guide to
0:55.2	passive real estate investing. There's no obligation and nothing to buy. Simply visit
1:00.1	passive real estate investing.com. For a real estate investor like you seeking an income
1:05.3	property loan, go to Ridge Lending Group, NMLS 42056. Over the years, you've heard President Chaley Ridge generously
1:13.2	devote her time to you here on the show as a guest. Ridge provides investment property
1:18.0	loans in most U.S. states, and you're going to find out how they've helped more people realize
1:23.0	their dreams of real estate financial freedom than any other mortgage lender in the entire nation
1:28.6	when you get started at ridge lending group.com.
1:34.8	You're listening to the show that has created more financial freedom than nearly any show
1:40.3	in the world. This is get rich education.
1:58.4	Welcome to GRE, from Toledo, Spain to Toledo, Ohio, and across 188 nations worldwide.
2:04.5	I'm Keith Weinhold. You're listening to Get Rich Education, and it's Ritch Dad Month here on the show,
2:09.6	where Ristad Advisor and I help you build your wealth each week until finally on the last week of this month,
2:15.9	Ritzstead Portad author Robert Kiyosaki and I talked to you about the importance of investing in real assets.
2:22.4	Yes, March is Ritzstead Month.
	...

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