On The Market 96: The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of w/Brandon Hall and Kyle Mast
What if we told you there was a real estate tax loophole that would help you write off most of your income without becoming a real estate professional or going through some precarious property scheme? If you’ve heard stories of wealthy investors making MASSIVE profits through rental properties and walking away with a near-zero tax liability, this could be the strategy that they were using. But, if you want to know what it is and how to use it to your advantage, you’ll have to tune in.
We’ve brought on not one but two financial powerhouses to explain the ins and outs of this rental property tax loophole. Brandon Hall, CPA, and Kyle Mast, CFP, have used this exact loophole to shave their tax liabilities down dramatically. The requirements to take advantage aren’t complicated, but you must be a rental property investor of a specific type of property. And not all CPAs will know how to do this, which is why you must find the right one BEFORE you file!
In this episode, Brandon and Kyle will talk about how to unlock this tax loophole, the requirements you’ll need to hit, the logistics of using it, and the red flags you’ll need to keep an eye out for when giving it a go. In a few simple steps, you could eliminate your income taxes in a completely legal way, BUT you’ll want to make sure you follow Brandon and Kyle’s suggestions to a tee.
In This Episode We Cover
The real estate tax “loophole” that allows you to write off a SIGNIFICANT portion of your income
Real estate professional status and how those that don’t make the cut can still write off BIG deductions
The requirements you’ll have to hit to realize this real estate tax deduction
Bonus depreciation, cost segregation, and why NOW is the time to take advantage
Depreciation recapture and what to do to avoid paying taxes in the future
Red flags to watch out for when trying this strategy and whose advice you can actually trust
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
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
BiggerPockets Money Podcast 200: A Personal Finance Masterclass with Kyle Mast
Connect with Brandon:
Brandon's BiggerPockets Profile
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-96
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