162: How to Pay Less to the IRS with Amanda Han, CPA

Feb 18, 2016

Ask episode

Chapters

Transcript

Episode notes

No one likes paying taxes, so let’s talk about how you can pay FAR less to the IRS! On today’s show, we sit down with real estate investor and CPA Amanda Han, the author of the brand new book The Book on Tax Strategies for the Savvy Real Estate Investors. In this powerful (and fun!) interview, you’ll learn about the biggest tax mistakes investors make when setting up — and running — their real estate business. This interview could literally save you thousands of dollars! Dig in!

In This Episode We Cover:

The new book that will help you save money
Who Amanda Han is and how she became CPA to an investor
Why the Tax Code is a language on its own
The importance of working with a CPA in regard to the Tax Code
The big list of people who screw up their taxes
Getting the right legal entity on the first deal
The two things to ask your CPA
Legitimate tax deductions you should know
Getting deductions from equipment
What you should know about the home office deduction
Other neglected deductions
A discussion on income shifting
Why you need to make sure you keep receipts
How to figure out if an activity is deductible through a CPA
Important retirement strategies
What you should know about self-directed investing
The basics of a 401(k)
The tax deferred and leverage concepts all rolled into one
Tips for getting benefits from depreciation
Entities and mistakes people make with them
How having corporations save on tax
Why you need proactive planning
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
Rich Dad Poor Dad by Robert Kiyosaki
The 4-Hour Workweek by Timothy Ferriss

Tweetable Topics:

“Within the Tax Code, there are a lot of loopholes.” (Tweet This!)
“As long as you can show that it is necessary for your business, it should be a tax reduction.” (Tweet This!)
“Depreciation is not a choice.” (Tweet This!)

Connect with Amanda

Learn more about your ad choices. Visit megaphone.fm/adchoices