Women Invest in Real Estate WIIRE 073: Best Real Estate Tax Savings Tips $$$
Hello WIIRE friends! This week on the podcast, we are sharing our very best real estate tax savings tips to hopefully help save you as much money as possible. With year-end approaching quickly one of the first things we need to think about jumping into the new year is taxes. With growing your business comes more tax questions and responsibilities and we want to make sure you are using a forward-thinking tax strategy to start the new year off right.
We are not CPAs or tax attorneys, so be sure to consult with a tax professional for highly-specific questions.
Our friend Danielle Rutigliano still has a few new client spots left for our WIIRE members, so if you have not taken the opportunity to reach out to her and hear her expertise on real estate tax strategy, what are you waiting for? Make sure to mention that WIIRE sent you. We use Danielle for our WIIRE business and in our own businesses and cannot say enough good things about her services.
Some of the tips on our list are straightforward and others are more complicated and as your portfolio grows, you should know all of the options in front of you. On our list of hot tax tips are:
- 1031 Exchange
- Die (morbid, but real life) while owning your properties
- Sell your primary residence of 2 years tax-free
- Cost segregation
- Seller financing
- Hold properties for more than a year
- Realize appreciation by borrowing, not selling
Make sure you are planning ahead and prepared by consulting with a tax professional to keep your real estate investing biz growing and thriving. These are some amazing tips we have learned on our journey and hope they help you to continue to grow your real estate investing business!
We will talk to you next week!
Resources:
- Check out the WIIRE bookkeeping services
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