On The Market 64: 2023 Real Estate Taxes: Write-Offs, Loopholes, and How to Pay Less Next Year w/Amanda Han
Real estate tax strategies are plentiful. In fact, real estate investing is one of the most tax-beneficial investments you could make, with a plethora of tax write-offs and loopholes you can use to avoid taxes legally. But, if you’re new to real estate investing or don’t know about many of these strategies, you could pay tens of thousands extra every year, limiting your portfolio’s growth. That’s why we brought Amanda Han, CPA and real estate investor, onto the show.
Amanda has been helping investors lower their tax burdens for decades. As an investor herself, she’s had to grow her professional and personal knowledge to take advantage of as many tax deductions as possible. She’s so fluent in the real estate tax code that she even wrote the books on tax strategies for BiggerPockets! Dave and Henry spend today’s interview asking Amanda the tax questions you may have been too scared to ask your CPA.
We’ll touch on the most significant changes in the 2023 tax code, the big blow to investors starting next year, cost segregations explained, the short-term rental tax loophole, and why you should start planning NOW for next year’s taxes. If you want to pay fewer taxes, buy more real estate, and keep more of your hard-earned passive income in 2023, this is the episode to listen to!
In This Episode We Cover
The biggest tax change for real estate investors that you NEED to know about
When to start preparing for taxes and “accelerating” your expenses in 2023
2023 tax strategies for real estate investors and the write-offs most people miss
The HUGE house hacking capital gains benefit that most investors don’t know about
Bonus depreciation and cost segregation studies explained
The short-term rental tax loophole that’ll allow you to write off everyday income
The one question every investor should ask when interviewing CPAs/tax strategists
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Books Mentioned in the Show
The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han
The Book on Advanced Tax Strategies by Amanda Han
Connect with Amanda:
Amanda's BiggerPockets Profile
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-64
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