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Rental Income Podcast With Dan Lane

Bonus: How To Reduce (Or Eliminate) Your Taxes With Real Estate Professional Status

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8836 Ratings

🗓️ 28 October 2021

⏱️ 16 minutes

🧾️ Download transcript

Summary

Ashish from investorfriendlycpa.com explains how rental property investors can save money on taxes with real estate professional status.

We talk about what it is, how to qualify, and rules that investors need to be aware of.

Transcript

Click on a timestamp to play from that location

0:00.0

inspiring interviews with today's top landlords this is the rental income podcast and now

0:08.4

dan lay there's so many things to love about owning rental properties and one of the great

0:14.4

benefits that we get as rental property owners are some really generous tax benefits i I've got a bonus episode of the podcast

0:23.7

for you today, and we're going to explore one of these great benefits. It's called real estate

0:28.6

professional status. This is really cool. If you follow the laws and you do things right,

0:35.5

it's possible to greatly reduce or in some cases even eliminate your taxes.

0:42.6

Now, there's a lot of little gotchas. There's a lot of little things you've got to figure out.

0:47.1

And on the show today, we're going to get to the bottom of it. We're going to figure out exactly what we need to do.

0:53.0

Joining us on the show today for a repeat appearance is Assis from investor-friendly

0:58.4

CPA.com.

1:00.3

And Assis is going to walk us through this.

1:02.2

He'll explain to us exactly how it works and how we can legally reduce our taxes.

1:08.3

Let's take a really quick break.

1:10.1

We'll thank our sponsors. We'll come right

1:11.7

back and we'll talk to Acease. I want to let you know about a really easy way to track your

1:16.6

rental income and expenses. It's an accounting software custom made for rental property investors.

1:23.7

It takes just seconds to enter an expense or to record that you collected rent.

1:28.4

It makes tax time really easy.

1:30.7

Just run a report and give it to your tax person and you are done.

1:35.3

They're currently offering a free 30-day trial.

1:38.0

There's no credit card required, so if you don't like it, there's nothing to cancel.

1:42.4

You can learn more and sign up today at

...

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