The Real Estate Professional Status Real Estate & The Tax Code - Jeremy Wells
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Nov 7, 2023 
Join Jeremy Wells, an enrolled agent and CPA running J. Wells CFO in Florida, as he dives into the engaging connection between real estate and the tax code. He sheds light on the substantial tax incentives available to real estate investors and clarifies common misconceptions about tax evasion. Jeremy also discusses the complexities of federal tax law, the importance of selecting the right CPA, and strategic tax optimization for investors. This conversation is a treasure trove of insights for anyone looking to navigate the financial landscape of real estate.
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Real Estate's Impact on Tax Code
- Real estate significantly drives the tax code, more than explicit mentions of finance.
- Many tax rules exist because of the real estate industry's influence.
Tax Code and Real Estate Incentives
- The tax code incentivizes real estate activities to stimulate economic growth.
- Real estate is crucial for the economy; thus, the government uses tax incentives to promote it.
House Building and Job Creation
- Jeremy Wells recounts a statistic about the job creation potential of building a house.
- He suggests that one house creates around 30-35 permanent jobs through a ripple effect.