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62. Professional Tax Advice From My CPA - Part 2

62. Professional Tax Advice From My CPA - Part 2

FromShort Term Rental Riches


62. Professional Tax Advice From My CPA - Part 2

FromShort Term Rental Riches

ratings:
Length:
30 minutes
Released:
Jan 19, 2021
Format:
Podcast episode

Description

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 scott@sudykainc.com  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 resilience@restmethods.com 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”  Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.
Released:
Jan 19, 2021
Format:
Podcast episode

Titles in the series (100)

Tim Hubbard, successful investor and CEO of a seven-figure short term rental management company shares it all. The insider tips you need to know to acquiring, operating and scaling a successful short term rental business.