Being a real estate professional undoubtedly has its own perks. One of which, especially for those investors who are also high-income earners, is the huge tax benefit. Having the status as a real estate professional equips you with one of the most powerful tax tools which could potentially help bring someone’s tax bill from 35% down to 15% or even lower. Some of you may not even aware of this. That is why we will take a dive into this subject as we talk about huge tax benefits and how you could qualify for it with founder of 401KCheckbook.com Bernard Reisz, CPA, CPCU.

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Huge Tax Benefits As A Real Estate Professional
Being a real estate professional brings many wonderful tax benefits. For investors who are also high-income earners, the real estate professional status is undoubtedly one of the most powerful tax tools that could potentially help bring someone's tax bill from 35% down to 15% or lower. Of course, this is something you'll want to discuss with your tax professional. We're going to explore the subject, its huge tax benefits, and how you could qualify.

It's my pleasure to introduce Bernard Reisz to the show. Bernard is the Founder of 401KCheckbook.com, which gives investors direct control of their tax-sheltered funds for real estate equity and debt opportunities. This is done by using Checkbook-controlled IRAs, solo 401(k)s and Checkbook Life Insurance. He provides an integrated approach to tax and financial planning for real estate investors and real estate professionals, focusing on their unique profiles and opportunities. It is very important because you always have to focus on the investor and individual themselves. He's also the Founder of AgentFinancial.com which provides tax and financial services to real estate professionals, including real estate agents and mortgage brokers. Bernard, welcome to the show.

It’s great to be with you. I'm looking forward to this discussion.

We hear this term thrown around as a real estate professional and a lot of people don't understand what a real estate professional is. If I have a large portfolio of real estate, that doesn't necessarily make me a real estate professional. That's what we're going to talk about but before we do that, tell us a little bit about yourself, what you do, and how you got to where you are. You talk about a lot of different things, not just about real estate professional status but a whole broad spectrum of stuff.

I'd be glad to. The core mantra and value that I try to advocate everybody takes for their own finances is recognizing that everything is integrated. You have to be an expert or knowledgeable at least in so many different financial disciplines if you want to get the optimal results. If somebody is your tax professional, they at least have to be knowledgeable about investing. They have to be knowledgeable about the kinds of strategies that you would hear from a traditional financial advisor. They've got to be knowledgeable and have insight into every single area of finance. Likewise, if you're going to somebody for financial advice that may not be a tax preparer, they've got to know or at least be familiar, acquainted and conversant in areas of investing in taxation. If they're a traditional financial advisor, it would be great if they were educated about real estate investing.