The WealthAbility Show with Tom Wheelwright, CPA
Real Estate & Tax Strategies
Apr 5, 2024
Brad Sumrok, expert in multi-family real estate, shares tax strategies and benefits for real estate investors. Topics include tax planning, incorporating tax strategies in business plans, real estate investments, maximizing tax benefits, historical tax incentives in real estate, and the importance of financial education.
37:02
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Quick takeaways
- Utilize cost segregation studies and direct ownership in apartment investments to maximize depreciation and reduce taxable income.
- Optimize ownership structures and leverage bonus depreciation in real estate deals for substantial tax savings and reinvestment opportunities.
Deep dives
Brad Sumrock's Financial Journey and Real Estate Investing
Brad Sumrock shares his journey from traditional education and corporate jobs to discovering real estate investing through reading 'Rich Dad Poor Dad.' He transitioned to self-employment, focusing on multifamily real estate investments, acquiring over 10,000 apartment units. Learning from experiences and seeking education, he significantly reduced his tax burden and transformed his financial future.
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