REI068: Real Estate Taxes w/ Ana Klein

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 3 May 2021

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

IN THIS EPISODE, YOU’LL LEARN: How being a CPA can impact your real estate investing choices. The most common mistakes people make in their real estate investing journey. Things that investors aren’t doing with their real estate investing but should be. Examples of overhead expenses that real estate investors commonly miss. How real estate investors act proactively about their taxes. Dissecting the quote “It’s my CPA’s job”. What is expected of the CPA versus what we should be doing ourselves? Possible scenarios of when we may want an LLC and when we might not. The importance of keeping business and personal expenses separate for real estate investors. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. BiggerPockets, Amanda Han and Matt Macfarland’s book The Book on Tax Strategies for the Savvy Real Estate Investor. Tom Wheelwright’s book Tax-Free Wealth. Brandon Turner’s book How to Invest In Real Estate. All of Robert’s favorite books. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Robert: Twitter | LinkedIn Connect with Ana Klein: Website | Instagram Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.9	On today's show, I talk with Anna Klein to discuss many aspects of real estate taxes from a high level.
0:09.9	Anna is a CPA and the owner and CEO of AKK Tax and Accounting.
0:15.2	A hot topic amongst real estate investors is whether or not you should be doing your investments with an LLC.
0:22.5	During this interview, we talked about that from a tax perspective rather than from a legal perspective, which is the
0:27.1	perspective that a lot of guests give here on the show. And we also talk about possible scenarios on
0:32.2	when someone should possibly have an LLC and when you might not want or need one. Anna being a CPA and a real
0:39.7	estate investor, she shared her thoughts regarding the common mistakes that people make in their
0:44.1	investments from a tax perspective, things that investors don't do but should, and the importance
0:50.0	of separating your business and personal expenses. We also dive into some misconceptions on what is the CPA's job versus what is our responsibility
0:59.4	as investors, and much more.
1:02.8	Before we get into the interview with Anna, I'm also going to share a quick writing I sent
1:07.2	out as part of my newsletter that is related to taxes and house hacking and sort of
1:13.2	just everything that we talk about in today's episode.
1:16.3	So I hope you guys enjoy that piece as well.
1:19.2	Now, without further delay, let's get into today's episode, all about taxes with Anna Klein.
1:28.6	You're listening to Real Estate Investing by the Investors Podcast Network,
1:33.1	where your host, Robert Leonard, interview successful investors from various real estate
1:38.1	investing niches to help educate you on your real estate investing journey.
1:50.6	Thank you. you on your real estate investing journey. Hey everyone, welcome back to the Real Estate 101 podcast.
1:54.9	As always, I'm your host, Robert Leonard.
1:57.4	And today's guest, as I mentioned in the intro, is going to be Anna Klein. But before we get
	...

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