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62. Professional Tax Advice From My CPA – Part 2

I’ve mentioned the benefits of being a real estate investor when it comes to taxes in multiple episodes, but no one knows this subject better than Amanda Han, my CPA and personal tax advisor. Not to mention, she sees the behind the scenes PROOF that short-term rentals can earn excellent returns! Since she is the professional in the space I thought it would be great to bring her on in a 2-part series to hear directly from the source. You don’t want to miss this! 

In this second part of a two part series we’ll cover: 

  • Selling a property and considerations with depreciation
  • Defferring capital gains tax with 1031’s or “Opportunity zones”
  • The benefits of filing extensions 
  • Living in a multi unit that is ALSO an investment (a 4 plex for example)
  • No capital gains tax up to $250 / $500k(if married) for personal residence exclusion 
  • Recap of our typical expenses for the RE investor
  • Recap of how to use your STR expenses to write off “other” income through “materially participating”
  • Tax differences if you are doing lease arbitrage

To find out more about Amanda and her company “Keystone CPA” visit www.keystonecpa.com

To find out more about cost segregations you can contact Scott at [email protected] 

Thinking of doing a 1031 exchange? Check out http://www.exeter1031.com/ 

 

Want a crash course in just two days with everything you need to know to find, acquire and operate a short-term rental with passive operations? Good news! We have our latest live webinar recording available here; https://restmethods.com/virtual 

For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com 

If you want to learn more about Tim’s journey, email us at [email protected] for a  free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy” 

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