Episode 21: Saving on Taxes with Real Estate Investing

In this episode, I cover two powerful real estate strategies that have allowed investors to save tens of thousands of dollars in taxes. The first strategy is achieving Real Estate Professional Status and the second is using the Short Term Rental Loophole. Bonus depreciation has supercharged the ability of these strategies to decrease the tax burden for W-2 and 1099 employees. 

 REPStracker App can be used to help document your hours for Real Estate Professional Status. 

For more information on Real Estate Professional Status, refer to Look IRS Sec 469c(7). You can learn more at. https://www.irs.gov/publications/p925

For more information on the “short term rental loophole,” refer to IRS Reg. Section 1.469-1T(e)(3)(ii)(A).

There are two great books written on real estate and taxes 

The Book on tax Strategies for the Savvy Real Estate investor by Amanda Han & Matthew MacFarland

The Book on Advanced Tax Strategies Vol 2. by Amanda Han & Matthew MacFarland

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You can learn more about Elisa at her website or follow her on social media.

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If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

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YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. P...