62 min listen
165: Year-End Tax Updates, New IRS Interest Rates, and URGENT News for LLCs
FromOn The Market
ratings:
Length:
30 minutes
Released:
Dec 4, 2023
Format:
Podcast episode
Description
LLC owners and anyone who owns real estate: TUNE INTO THIS EPISODE! Today, we’re talking to Brandon Hall, CPA, about an urgent change affecting EVERY LLC in America. Not knowing about this change could cost you up to $10,000 in fines, but don’t worry; Brandon will tell you precisely what you have to do to avoid the fine entirely!
Even if you don’t have an LLC, we’ve still got some 2024 tax tips to help you pay WAY less to the IRS this coming tax season. Brandon will review the new interest rate updates from the IRS and explain why you could owe much more than your taxes when you file. We’ll discuss the gradual decline of bonus depreciation and whether performing a cost segregation study in 2024 makes sense.
Lastly, we’ll touch on opportunity zones and what to do if you have a large gain you DON’T want to pay taxes on. Plus, an instant red flag when looking for a CPA!
In This Episode We Cover:
The one thing EVERY LLC owner must do to avoid a $10,000 fine
Bonus depreciation’s decline and how much you can write off in 2024
Cost segregation explained and whether or not this HUGE tax benefit is worth the effort anymore
Opportunity zone investing and turning a significant profit into tax-free investing
The IRS’s new interest rates and penalties that could cost you thousands
Where to find a CPA and one big red flag when searching for one
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Hear Our Last Episode with Branon on “The Biggest Real Estate Tax Loophole”
Connect with Brandon:
Brandon's BiggerPockets Profile
Brandon's Website
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-165
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Even if you don’t have an LLC, we’ve still got some 2024 tax tips to help you pay WAY less to the IRS this coming tax season. Brandon will review the new interest rate updates from the IRS and explain why you could owe much more than your taxes when you file. We’ll discuss the gradual decline of bonus depreciation and whether performing a cost segregation study in 2024 makes sense.
Lastly, we’ll touch on opportunity zones and what to do if you have a large gain you DON’T want to pay taxes on. Plus, an instant red flag when looking for a CPA!
In This Episode We Cover:
The one thing EVERY LLC owner must do to avoid a $10,000 fine
Bonus depreciation’s decline and how much you can write off in 2024
Cost segregation explained and whether or not this HUGE tax benefit is worth the effort anymore
Opportunity zone investing and turning a significant profit into tax-free investing
The IRS’s new interest rates and penalties that could cost you thousands
Where to find a CPA and one big red flag when searching for one
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Hear Our Last Episode with Branon on “The Biggest Real Estate Tax Loophole”
Connect with Brandon:
Brandon's BiggerPockets Profile
Brandon's Website
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-165
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Dec 4, 2023
Format:
Podcast episode
Titles in the series (100)
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