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15min chapter
How Real Estate Can Give You BIG TIME Tax Savings!
Real Wealth Show: Real Estate Investing Podcast
Navigating Tax Audits and Real Estate Professional Status
This chapter explores the benefits of extending tax deadlines for higher net worth and professional investors to reduce audit risks, overestimating payments, and avoiding errors. It discusses the importance of solid documentation and strategic planning to handle potential audits related to real estate professional status, providing practical advice on preparing for audits with a proactive mindset. Additionally, it delves into the requirements and benefits of obtaining real estate professional status for tax purposes, emphasizing the significance of material participation in managing rental properties for tax savings.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode