The Real Estate Professional Status Preparing For The Rising Tax Tide - Nathan Ganz
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Oct 30, 2024 In this insightful discussion, Nathan Ganz, co-owner of Northwest Premier and author of 'The Financial Blueprint for Real Estate Agents', sheds light on the looming threat of rising taxes for independent contractors and real estate investors. He emphasizes proactive tax planning and reveals strategic ways to minimize tax liabilities, like leveraging real estate professional status. Nathan also critiques traditional retirement savings methods, advocating for real estate as a more effective wealth-preservation tool in today's economic landscape.
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Historical Tax Rates
- Current tax rates are historically low, despite feeling high.
- Expect tax increases due to national debt and spending.
Proactive Tax Planning
- Be proactive with tax planning, not reactive.
- Work with real estate tax professionals for optimal strategies.
Future Tax Qualification
- Focus on strategies for future tax qualification, like real estate professional status.
- Prepare for increasing taxes by positioning yourself for tax advantages.
