Creating Wealth Real Estate Investing with Jason Hartman CW 538 - Mark Kohler, Asset Protection and Tax Strategy for Real Estate Investors
A good business is one that cannot be outsourced and people will always need a place to live. This is why Jason focuses on income properties when recommending creative wealth strategies for you. He keeps abreast of interest rates, taxes and credit based assets so he can help you achieve the financial future you deserve. Jason's guest Mark Kohler CPA just completed his third book and offers 28 tips for tax planning and asset protection. He talks about S corps, LLC's and Obamacare. He wants everyone to have an exit plan for their life through a versatile revocable living trust because as much as you may not want to admit it we are all mortal.
Key Takeaways:
Jason's Editorial:
[1:25] Teaching a great real estate course
[2:26] Monetary and fiscal policy definitions
[3:42] Real estate and income property differences
[4:29] The easiest type of real estate to own is a parking lot
[6:00] Real estate in the average U.S. city is 40% parking
[7:32] Financial Independence Day Counseling
[7:54] Chicago and Grand Rapids property tour
[8:33] Self driving cars could eliminate parking needs
[9:42] Credit based appreciation
[10:04] Interest rates and the math of relativity
[10:56] Find a mortgage calculator and do this math
[12:11] The golden opportunity of low interest rates
[12:54] If the money supply declines credit based assets are affected more
[13:35] Inflation induced debt destruction
[14:12] Multiple tax advantages
[15:04] Learn about land contracts
Mark Kohler interview:
[16:45] 28 game changing strategies for tax and asset protection
[17:10] The first book was about people who get taken advantage of
[17:30] The second book was a story
[18:00] The 3rd book brings it all together
[18:45] 3 Tips for planning
[19:30] Know the difference between ordinary income and passive income
[23:00] A real life example of Obamacare related requirements
[24:14] The 3 costs related to Obamacare
[25:00] Income property is a proven tax favored asset class
[25:50] Healthcare strategies
[26:45] The solution is the S corporation for multiple sources of income
[28:24] LLC do not save taxes
[29:17] The Kohler Payroll Matrix
[30:37] You do not need an LLC for every rental
[32:16] Know your properties and find a balance
[35:10] Register as a foreign LLC in every state that you have property
[36:44] Don't forget about the legal and tax planning that needs to be done
[37:32] How do these things fit into your estate plan?
[38:52] Revocable Living Trust
[42:20] A real life "Do not resuscitate" experience
Mentions:
Financial Independence Program
Chicago/Grand Rapids Property Tour