How to Pay Less in Taxes – Amanda Han | PREI 063

Passive Real Estate Investing

Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

Education, Business, Investing, Entrepreneurship, How To, Business:investing

4.6 • 968 Ratings

🗓️ 18 November 2016

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you want to succeed in real estate, your tax strategy will play a HUGE role in how fast you grow. A great tax strategy can save you thousands of dollars a year — and a bad strategy could land you in legal trouble. On today’s episode we discuss some ways to maximize your tax deductions, Little known secrets to take control of your retirement money, clever ways to write off your kids, and so much more. If you missed our last episode, be sure to listen to the Maverick Mistakes in Real Estate Investing. Enjoy the show! – – – – – – – – – – – – – – Download your FREE copy of: The Ultimate Guide to Passive Real Estate Investing. Get your FREE coffee mug by leaving us a Rating and Review on iTunes. Here’s how. See our available Turnkey Cash-Flow Rental Properties. Please give us a RATING & REVIEW (Thank you!) SUBSCRIBE on iTunes | Stitcher | Podcast Feed Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to passive real estate investing, the show where busy people like you
0:05.0	learn how to build substantial passive income while creating wealth for the long term.
0:09.0	And now here's your host Marco Santorelli.
0:13.0	Welcome to Passive Real Estate Investing.
0:15.0	I'm your host, Marco Santorelli,
0:17.0	and today we've got what might be perceived as a boring topic
0:21.0	and that is about taxes, but remember that taxes are your biggest
0:24.5	expense throughout your lifetime so not only do you need to choose your income wisely
0:28.8	because your income depending on how you generate it will be taxed at different rates, but if you invest
0:34.8	wisely, like with real estate for example, you can have some of the best tax breaks
0:39.6	available through the IRS code in the United States. See the more you earn through your job or through your business the more you
0:47.7	get taxed but the system is actually set up in a way that actually punishes people who earn employment income.
0:55.2	This is your W-9 and to some degree your 1099 income, but it is designed to reward
1:01.2	business owners and investors.
1:03.8	So real estate, rental real estate, income producing real estate,
1:08.3	falls in that eye quadrant.
1:10.5	And that's all about investing.
1:12.2	So wage income not only requires hard work, but it gets taxed at a very high rate.
1:18.0	And on top of that you have to pay what are known as FICA taxes, which have to do with your Medicare and it's just not the best
1:26.4	way to protect yourself from the taxes that will erode and eat away at every paycheck.
1:33.5	So how do you protect yourself?
1:35.0	Well, the best way is through rental real estate, income producing real estate.
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