Treating Real Estate Investing as a Business and Utilizing Deductions | 7min snip from BiggerPockets Real Estate Podcast

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889: How to Build Generational Wealth Without Losing it Along the Way w/Whitney Elkins-Hutten

BiggerPockets Real Estate Podcast

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CHAPTER

Treating Real Estate Investing as a Business and Utilizing Deductions

Learn about the importance of treating real estate investing as a business and how to utilize deductions to lower tax liability. They discuss setting up business entities, deducting expenses, having a home office, and recommend a book called 'Taxury Wealth' for further insights.

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Want to learn how to create generational wealth? You know, the type of wealth that your children’s children’s children’s children can rely on. The type of wealth that allows your family to live a life of financial freedom, pursue their passions, and make a real impact on the world without having to sit behind a cubicle or screen all day long? That’s the wealth Whitney Elkins-Hutten is teaching you how to build in today’s episode.

After achieving financial independence for herself and her family through real estate, Whitney knew that she didn’t want her knowledge to go to waste. So, she developed a wealth-building blueprint for her daughter, which became her new book, Money for Tomorrow. In it, Whitney teaches you how to build a wealth legacy that will endure for generations to come and ensure that your descendants won’t gamble or spend away your life’s work.

To protect your generational wealth, Whitney walks us through the four financial “horsemen” that will drain your savings, crush you with taxes and fees, and lead you to financial ruin. So, if you want to ensure your wealth is built to last and will be there for generations, stick around for this episode and pick up your copy of Money for Tomorrow using code “MFTPOD” for a special discount!

In This Episode We Cover:

The generational wealth-building blueprint that anyone can follow to find financial freedom

The four “horsemen” that are coming to take your wealth when you’re not looking

Using insurance the right way to guard your health, wealth, and assets

Why you need to stop focusing on making money and START focusing on saving money

How to use the tax code to owe less to the IRS every year

The MASSIVE investment fee that you don’t even notice you’re paying for

How to pass on generational wealth to your children, their children, and beyond

And So Much More!

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