Welcome to Passive Real Estate Investing. I'm your host, Marco Santarelli and welcome to February, 2022. I hope you had a great January. It's been very busy for us, and I hope it's been great and busy for you too. Well, this has been an amazing year. There's been a lot of activity in the real estate market, as well as legislation that has been going back and forth for the last few months, especially as it relates to taxes and tax regulations. And that is really what we want to talk about on show. I think it's an important show for everybody, especially if you have a self-directed retirement account of any kind, but the big question is are self-directed IRAs and even 401ks doomed. That is a big question. There's been a lot of regulation that has been proposed to essentially destroy and gut the self-directed IRAs.

Well, IRA in general. And so my guest today, John Hyre is someone who we're gonna talk about this. Now, granted, this is a very complex and deep subject. And so we're gonna talk about the, you know, what is going on and what you can do about it, some strategies for the next 30 or 40 minutes, but don't take it lightly. I think it's very important, especially if you either have a set off directed retirement account or a traditional IRA, or if you're planning to set up any kind of self-directed account, including solo 401ks, or 401ks of any kind will Rogers reminds me, you know, with his great famous quote, the only difference between death and taxes is that death doesn't get worse every time Congress meets. Well, it felt that way in December with all the new legislation that they were trying to push through the door before the end of the year.

And that is no bueno. So fortunately a lot of it has been taken back, but that doesn't mean that they literally can't shove that back in there tomorrow. That's just the way things go with Congress. So you just have to stay vigilant. So anyway, my guest you're gonna enjoy today. John is an amazing guy and very knowledgeable, and I do intend to bring him back on the show in the future. And if you have tax related questions, I don't necessarily need them today, but submit them as one of the Ask Marco questions, I'm going to bank them. And then when I have John Hyre back on the show, we're gonna go through essentially and ask John anything type of episode with tax related questions. So something to be thinking about, especially as you're listening to this particular episode today.

 

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So without further ado, let us get to our guest today. It's my pleasure to welcome John Hyre to the show. John is a tax attorney with 27 years of experience, his virtual practice caters to real estate investors, small business owners and self-directed IRA and 401k investors all over the United States. He is exceptionally knowledgeable on these matters and he painstakingly reviews the core cases to stay on the cutting edge of these regulations. He's an amazing person. Someone you should definitely get to know John, welcome to the show.

Glad To be here, glad to help people keep what's theirs. 

Yeah, absolutely. I mean, I told you before we started recording here that I hate paying taxes. So I'll pay my quote unquote fair share, but I try and minimize that as much as possible. So let's start off with your practice. You have a fascinating practice. You do something that I don't know, any other tax strategist or tax attorney does, and you literally will go to Washington DC or wherever you go. And you'll literally read court cases and court documents, and it's just, you know, admirable, but tell us about your practice and what you do.

Sure. I started out solely in real estate when the internet was young and accountants and attorneys on both were less specializ...