#282: How to Avoid Income Taxes (Legally) With Real Estate Investing
Real Estate Investing with Coach Carson
Chad Carson
4.9 • 613 Ratings
🗓️ 13 March 2023
⏱️ 67 minutes
🧾️ Download transcript
Summary
Episode #282 - If you make $100K in earned income, you may pay ~$30K in income taxes. But say you make that same $100K in rental income, you can (legally) pay $0 of taxes, instead. Find out how and discover the tax form that every real estate investor should know.
COMPANION ARTICLE/SHOW NOTES/LINKS: https://www.coachcarson.com/avoidincometaxes/
TIMESTAMPS:
0:00 - Power of Real Estate
1:44 - Behind the scenes
5:11 - CPA firm + REI
8:42 - Rental vs. Earned Income
13:40 - Depreciation
20:14 - Passive Losses
23:49 - Cost Segregation
33:25 - Short-term Rental
38:34 - Real Estate Pro
44:32 - Buy & Hold Long-term
53:28 - 1031 Exchange
57:29 - Self Directed IRA
1:02:21 - Connect with Brandon
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https://coachcarson.com/creativefinancing
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Transcript
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| 0:00.0 | If you own rental properties, you get to have something called a depreciation expense. |
| 0:04.3 | If I have net income of $20,000, but my depreciation expense is $25,000. |
| 0:11.2 | So I'm telling the IRS, I lost $5,000. |
| 0:13.9 | But in reality, I pocketed $20,000, right? |
| 0:17.7 | That right there is the beautiful thing about real estate. |
| 0:20.2 | Because if I can do that 10 more times. |
| 0:30.6 | Welcome to the podcast, Real Estate Investing with Coach Carson. I'm your host, Chad Carson. You can also call me coach. And this is a show to help you build a thriving |
| 0:37.7 | rental property business so you can get out of the financial grind and do more of what matters. |
| 0:42.6 | Whether you're a first time listener or a long time listener, thank you for being back for another episode. |
| 0:47.0 | The title of this episode is How to Avoid Taxes Legally with Real Estate Investing. |
| 0:52.9 | This is an episode where I interview someone named Brandon Hall. |
| 0:55.5 | He's a CPA. He's also a podcast host of a show called The Real Estate CPA. It's also a real |
| 1:01.0 | estate investor. And this show is going to be all about saving money on taxes. We're going to go |
| 1:06.2 | through five different strategies that are kind of the core fundamental strategies that maybe you've |
| 1:11.5 | heard people talk about like depreciation, like 1031 exchanges, lots of other nuances there. |
| 1:16.9 | We're going to unpack those and make them understandable so that you can figure out how they |
| 1:21.3 | work as a real estate investor. So you can have the vocabulary to talk about them with other |
| 1:25.8 | investors, with your real estate professionals, and ultimately |
| 1:28.2 | so you can use them as an investor to save money on taxes. This is a big deal. One of your biggest |
| 1:33.3 | expenses as a real estate investor is income taxes. And if there are laws on the books that allow you |
| 1:38.2 | to save money, you should know about them and you should figure out how to save money for yourself. |
| 1:42.9 | So that's what this episode is all |
... |
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