Real Estate Rookie 368: Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies w/Natalie Kolodij
Want to pay less money to the IRS in 2024? We’ve got the real estate tax strategies to help you do just that. And get this—you don’t need a large real estate portfolio to benefit from these money-saving tax tips!
Welcome back to the Real Estate Rookie podcast! Today, real estate tax strategist Natalie Kolodij lends her expertise on the many tax benefits of real estate investing. Natalie is not only a certified public accountant (CPA) but also a fellow investor, and in this episode, she shares the unique real estate investing strategy she used to get started—flipping mobile homes! She also dives into the different types of partnerships and their tax advantages, as well as common house hacking misconceptions that cause new investors to miss out on important deductions.
Need to sell a property? You’ll want to know about the exclusion that allows you to avoid capital gains tax. Natalie even gets into the short-term rental “loophole” that investors can use to reduce their taxable income each year. Of course, you don’t need to master the tax code before buying your first property—you just need to find a tax professional who specializes in real estate. So, Natalie offers three questions you MUST ask before hiring one!
In This Episode We Cover:
Must-know 2024 tax strategies for the small rookie investor
Crucial real estate questions to ask a tax professional before hiring them
How to plan and file taxes for different types of partnerships
Common house hacking misconceptions that cost investors thousands of dollars
The short-term rental “loophole” that allows you to reduce your taxable income
How to dodge capital gains tax when selling your investment property
The most common tax mistakes that new investors make (and how to avoid them!)
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Hear Natalie on the “BiggerPockets Money” Podcast
What You Need to Do NOW to Pay Fewer Taxes in 2024
How to (Legally) Avoid Taxes by Investing in Real Estate
Seeing Greene: CPAs Answer YOUR Top Investing and Tax Questions
The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of
Connect with Natalie:
Natalie's BiggerPockets Profile
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-368
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