Slash Your Tax Bill and Shield Your Wealth! My Real Estate CPA and Attorney Explain How
The BetterLife Podcast: Wealth | Real Estate Investing | Life
Brandon Turner and Cam Cathcart
4.8 • 767 Ratings
🗓️ 9 April 2024
⏱️ 126 minutes
🧾️ Download transcript
Summary
Amanda Han and Mauricio Rauld are Brandon’s personal CPA and attorney, respectively. They both work with real estate investors of all stripes to help them avoid taxes (legally) and protect their assets.
In this episode, they speak directly to 6 different types of investors ranging from newbie to syndicator – and break down how each type of investor should approach their tax strategy, entity formation, insurance, estate planning, and more.
Amanda and Mauricio also talk about:
- LLCs: how, when, and where you should form them
- How to avoid a nasty surprise tax bill (common LLC mistake)
- What accelerated depreciation is and how to use it to supercharge your returns
- How to know when it’s time to bring in a CPA or attorney
- When to consider an S Corp structure
- How flippers can minimize their liability
- Whether your rental properties need to be in separate LLC’s
- What real estate professional status can do for you
- What Mauricio learned from a near-death experience
- How they run their businesses and the habits that let them live a BetterLife
- And much more!
Books Mentioned:
- Atomic Habits by James Clear
- The 4-Hour Workweek by Tim Ferriss
- Legal Strategies for Everyone by Mauricio Rauld
- The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
- Rich Dad, Poor Dad by Robert Kiyosaki
- Traction by Gino Wickman
- Buy Back Your Time by Dan Martell
Connect with Amanda:
Book: https://www.amazon.com/Book-Strategies-Savvy-Estate-Investor/dp/0990711765
Website: https://keystonecpa.com
Instagram: https://www.instagram.com/amanda_han_cpa
TikTok: https://www.tiktok.com/@amandahancpa
Connect with Mauricio:
Book: https://www.amazon.com/Legal-Strategies-Everyone-Maximizing-Protecting/dp/B0CVKWWLQ5
Website: https://www.premierlawgroup.net/
Instagram: https://www.instagram.com/mauriciorauld/?hl=en
TikTok: https://www.tiktok.com/@mauriciorauld
Connect with us!
Website: https://abetterlife.com/
Instagram: https://www.instagram.com/betterlife/?hl=en
https://www.instagram.com/beardybrandon
Mauricio’s charitable cause (100% of ad revenue goes here):
- Tim Tebow Foundation https://timtebowfoundation.org
Amanda’s charitable cause
- Animals for Armed Forces, her nonprofit which covers the cost of pet adoption for veteran families https://www.animalsforarmedforces.org/
Show Sponsor:
- The BetterLife REI Summit May 3-5 in Denver, CO. The most actionable “how to” real estate event for new and experienced investors. Grab your tickets here: https://reisummit2024.com/
Interested in building wealth without losing your soul? Join the BetterLife Tribe here: https://join.abetterlife.com/tribe
Transcript
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| 0:00.0 | You've got to figure out what is it that you want to do. |
| 0:03.9 | I mean, real estate is really just a means to an end. |
| 0:05.7 | It's like, what do you really want to do? |
| 0:06.8 | Do you want to actually go bust your butt and like what kind of lifestyle? |
| 0:09.8 | You're like, why are you doing it? |
| 0:10.8 | Without a vision, it's like it doesn't even matter. |
| 0:12.5 | So I think it always starts with that vision. |
| 0:14.4 | So I think it's the same with real estate. what you want out of it, you're clear on where you want to go. Then you start thinking, okay, well, I'm going to be a wholesaler, or I'm going to be a fix |
| 0:22.4 | and flipper, or I'm going to be a syndicator, or I'm going to be a buy and hold. |
| 0:25.4 | But it all starts with a vision, right? |
| 0:29.7 | Welcome to the Better Life podcast, where we talk about real estate investing, building wealth, |
| 0:33.8 | and all in all living a better life. My name is Brandon Turner and I've spent my life investing in real estate to achieve financial |
| 0:40.5 | freedom. |
| 0:41.5 | And alongside my co-host, Mr. Cam Cathcart, we want to help you do the same. |
| 0:46.7 | On this show, you're going to hear from world-class guests who have been handpicked to |
| 0:51.9 | help you level up your investing, your leadership, your |
| 0:56.0 | goals, your habits, and more to become the very best version of yourself. So, join us as we |
| 1:03.2 | explore the habits, the actions, the beliefs that it takes to build wealth through real estate |
| 1:08.3 | investing without losing your soul. |
| 1:28.3 | Maricio, Amanda. You did. Maricio, Amanda. I looked at you wrong. |
| 1:29.6 | You did. |
| 1:30.6 | Maricio, Amanda. |
... |
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