BiggerPockets Real Estate Podcast 577: Cutting Your Tax Bill, Investing in Different Markets, & "Investor Pressure" | Coaching Calls
Mar 1, 2022
Dive into real estate strategies with a focus on cutting tax bills through accelerated depreciation. Discover the pros and cons of investing across multiple markets and learn how to find a tax-savvy CPA. Explore personal anecdotes about handling stress and pressure in the path to financial success. Hear how house hacking can be a game-changer for income generation, and gain insights into navigating financing options without a traditional W-2 income. This discussion is packed with practical advice to sharpen your investing skills!
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Tax Planning
- Find a CPA who can explain tax strategies, not just process returns.
- Build a strong tax foundation early in your investing career.
Understanding Depreciation
- Real estate depreciation is a tax write-off, not property value decline.
- It lets investors deduct a portion of a property's cost annually.
Becoming a Real Estate Professional
- Consult a CPA about becoming a full-time real estate professional for tax benefits.
- This allows you to offset other real estate income with depreciation.
