There are technically tax benefits to having a property in an LLC if your property is in CA and pushes out a lot of profit. You can take advantage of the PTE deduction in the LLC to get around the $10,000 SALT cap.
Absolutely practical, very informative and timely material. Applying many of the innovative tax strategies in Tom’s Tax Free Wealth book. As a new passive RE investor, I am learning all about cost segregation and K-1 forms, etc. Knowledge is priceless! 📚📚📚 Thank you so much!!! 👏🏻
Hi Kristina! I wish I saw you were live before I did. Joined right before you signed off :(. I've been loving your videos and watching for a few years now. I do have a question. I'm in NC and am have a property in the mountains near south of Asheville. I've got a property with space to add a Park Model sized modular (nothing officially an RV allowed to be hooked up to utilities and I don't want to go manufactured). Do you know of any modular companies that work in western NC (I'm in Hendersonville)?
Question David. I plan to sell a duplex that I currently have almost zero cash flow but had appreciated a lot. And then, 1031 exchange to two properties in better neighborhoods with cash flows. The zero cash flow results from the duplex is way under rented. The reason being rented low is the tenant on one side has disability, and the other side tenants aren't making good income, either. I think I've only raised rents once for $25 each unit during my 6 years ownership. Now I suddenly feel bad about them, because the rents will jack up rapidly when new owner takes it over after my 1031. But, I'm not making money here. Someone told me that my big heart can sometimes hurt myself. I'm torn. I know it's not really an investment question, but any advice from you or BiggerPockets reviewers/listeners is greatly appreciated!
Real estate investors obsession with leaching off of the productive workforce of society then not paying anything back to the communities they vacuum suck wealth out of is bad enough but then publicly bragging online about it is going to ruin investing for all of us! We should not be looking to avoid taxes but consider it an important future investment. If you maximize your rents then don’t pay taxes every successive generation gets poorer and crime increases… soon you will have an anti investor political climate, poorer tenants and the properties you invested in become slums
i really liked Tom when he was just a cpa and giving us good info. nowadays he is just a far right vocal person, who is clearly way into politics and blames everything on Biden while thinking Trump was the god himself. (no I havent watched this episode, but I listened to Tom's podcast until he started politicizing everything)
Frankly the claim that the business owner takes on all of the risk is patently absurd, the floor for an employee is zero and it will hit zero for the employees before it does before it does for the owner. Most employers don't wait until bankruptcy to begin layoffs, after all. Moreover the liability for the owner is also zero unless they did something wrong like piercing the corporate veil. Not allowing the same deductions for employees proves that the tax system is designed to benefit the owning class, you feable arguments to try say they are different is not at all convincing because it is pure BS and anyone with a half a brain can see through it.
I loooovvvvee Seeing Green episodes!!! I honestly would listen all the way through even if it was a two hour episode
There are technically tax benefits to having a property in an LLC if your property is in CA and pushes out a lot of profit. You can take advantage of the PTE deduction in the LLC to get around the $10,000 SALT cap.
Absolutely practical, very informative and timely material. Applying many of the innovative tax strategies in Tom’s Tax Free Wealth book.
As a new passive RE investor, I am learning all about cost segregation and K-1 forms, etc.
Knowledge is priceless!
📚📚📚
Thank you so much!!! 👏🏻
This was fantastic! Do these more often!
Definitely a show full of great advice. Repost this this early next year, and do a similar one soon!
31:16 In my country we say "amortization" instead of "depreciation".
My tax man seems skeptical about cost segregation things since I m investing out of state. Could you please elaborate a bit more? Thanks
Great episode with SO much Great information 💪🏾💪🏾👍🏽👍🏽👍🏽
Glad it was helpful!
David got the Blue Check! Let's gooooo!
Wow, awesome information! Thank you!
Hi Kristina! I wish I saw you were live before I did. Joined right before you signed off :(. I've been loving your videos and watching for a few years now. I do have a question. I'm in NC and am have a property in the mountains near south of Asheville. I've got a property with space to add a Park Model sized modular (nothing officially an RV allowed to be hooked up to utilities and I don't want to go manufactured). Do you know of any modular companies that work in western NC (I'm in Hendersonville)?
Question David. I plan to sell a duplex that I currently have almost zero cash flow but had appreciated a lot. And then, 1031 exchange to two properties in better neighborhoods with cash flows. The zero cash flow results from the duplex is way under rented. The reason being rented low is the tenant on one side has disability, and the other side tenants aren't making good income, either. I think I've only raised rents once for $25 each unit during my 6 years ownership. Now I suddenly feel bad about them, because the rents will jack up rapidly when new owner takes it over after my 1031. But, I'm not making money here. Someone told me that my big heart can sometimes hurt myself. I'm torn. I know it's not really an investment question, but any advice from you or BiggerPockets reviewers/listeners is greatly appreciated!
Amazing content
Bigger pockets needs to get all these scammers out of their comments
Great tips by Matt!
Good information. Great motivation.
I am looking to invest in my 4th real estate property with a garage converted to Airbnb. Can I get a conventional loan to purchase this property.
Strategic real estate loss? I need to know more.
Real estate investors obsession with leaching off of the productive workforce of society then not paying anything back to the communities they vacuum suck wealth out of is bad enough but then publicly bragging online about it is going to ruin investing for all of us! We should not be looking to avoid taxes but consider it an important future investment. If you maximize your rents then don’t pay taxes every successive generation gets poorer and crime increases… soon you will have an anti investor political climate, poorer tenants and the properties you invested in become slums
i really liked Tom when he was just a cpa and giving us good info. nowadays he is just a far right vocal person, who is clearly way into politics and blames everything on Biden while thinking Trump was the god himself. (no I havent watched this episode, but I listened to Tom's podcast until he started politicizing everything)
Same, it got old fast particularly considering most of the bad tax issues were under Trump who admitted to not even reading it before signing it
Frankly the claim that the business owner takes on all of the risk is patently absurd, the floor for an employee is zero and it will hit zero for the employees before it does before it does for the owner. Most employers don't wait until bankruptcy to begin layoffs, after all. Moreover the liability for the owner is also zero unless they did something wrong like piercing the corporate veil.
Not allowing the same deductions for employees proves that the tax system is designed to benefit the owning class, you feable arguments to try say they are different is not at all convincing because it is pure BS and anyone with a half a brain can see through it.