753 Seeing Greene: CPAs Answer YOUR Top Investing and Tax Questions

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 16 April 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want more real estate tax deductions? If you’re a savvy investor, you can use the tax code to avoid income tax, keep more money, and grow your portfolio even faster. But it’s hard to do so without a rock-solid CPA behind you. Thankfully, we have some of the world’s top real estate CPAs on the show, and they’re giving their take on tough tax questions (WITHOUT sending you a bill!). If you want to lower your tax burden, keep more of your hard-earned money, and play the tax game to WIN, stick around! Welcome back to another Seeing Greene! This time, we’re joined by some of the most beloved real estate tax rockstars. Amanda Han, Matt Bontrager, and Tom Wheelwright have spent their careers helping real estate investors get the most out of their investments. From eliminating income tax to finding hidden deductions, boosting depreciation, and getting their clients into more tax-advantaged assets, these CPAs practice what they preach and are here to help you too! They’ll be answering questions about how to unlock the MASSIVE tax benefits of real estate investing while working a W2, when to start an LLC, how to protect your assets, whether a 1031 exchange is really worth it, and how to find the right CPA. Their suggestions could save you THOUSANDS in taxes, so don’t miss this one! In This Episode We Cover: How to avoid income tax through real estate investing (even with a W2 job!) When to pull equity out of a property and how long to hold a rental Crucial questions to ask a CPA and how to know that they’re truly “investor-friendly” The 1031 exchange explained and when it’s NOT a good option for eager sellers Private money lending and how to ensure your lender shares in your property’s tax benefits Capital gains tax and how to AVOID it when selling a primary residence And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch BPCON2023 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Hear Our Past Episodes with Amanda: BiggerPockets Podcast 49 BiggerPockets Podcast 162 BiggerPockets Podcast 269 BiggerPockets Podcast 370 BiggerPockets Podcast 424 BiggerPockets Rookie 77 BiggerPockets Rookie 255 BiggerPockets Rookie 260 Hear Our Past Episodes with Matt: BiggerPockets Podcast 689 Hear Our Past Episodes with Tom: BiggerPockets Podcast 569 BiggerPockets Podcast 631 Connect with Amanda, Matt, & Tom: Amanda's BiggerPockets Profile Amanda's Instagram Amanda's Website Matt's BiggerPockets Matt's Website Tom's BiggerPockets Tom's Website Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-753 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pocket Show, 750tham.
0:04.0	Starting a company is a great way to go from a full W2 worker with no flexibility into
0:10.6	the passive income ideal of owning real estate and living off of the rents.
0:16.1	Very few people can make the jump from one all the way over to the other.
0:19.9	So instead what I recommend is that they make a little pitstop in between
0:24.0	called owning a business. This is becoming a 1099 employee, an entrepreneur,
0:28.3	and you get a lot of ride-offs when you get into that world.
0:31.1	Let's go on everyone. This is David Green, your host of the Bigger Pocket
0:34.3	Show, State Podcast here today with a seeing green episode.
0:38.4	This is your first time joining us today. You're in for a treat.
0:40.9	On these shows, we take questions directly from our audience. Yes, that means you.
0:45.2	And we answer them on the show. And in today's show, I brought help from three friends.
0:50.4	This is a tax oriented show where we are going to share tax strategies,
0:54.8	share specific stories regarding taxes that different Bigger Pockets members encountered.
1:00.0	And we're going to have tax experts give them advice of what they could do to save that money.
1:05.0	Today's show, we get into a lot of topics. But some of the ones that stood out the most were
1:09.5	when a partnership makes sense and when it doesn't make sense and what to do when you run out of
1:14.0	money to invest when you don't need to do a 1031 to shelter gains. And what specific questions
1:20.1	you should ask your CPA to find out if they are the real deal or a pretender when it comes to
1:24.9	real estate investing. This is all really good stuff that's going to save everybody a lot of money.
1:29.2	So thank you for being here. I think you're going to love it. Before we get to our first question,
1:33.4	today's quick tip is when you save in taxes, it's like getting a race.
	...

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