No one likes paying taxes, so let’s talk about how you can pay FAR less to the IRS! On today’s show, we sit down with real estate investor and CPA Amanda Han, the author of the brand new book The Book on Tax Strategies for the Savvy Real Estate Investors. In this powerful (and fun!) interview, you’ll learn about the biggest tax mistakes investors make when setting up — and running — their real estate business. This interview could literally save you thousands of dollars! Dig in!
Click here to listen on iTunes.
Listen to the Podcast Here
Watch the Podcast Here
Help Us Out!
Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!
This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: PATLive. PATLive’s team of superstar receptionists will always leave your customers delighted. Every agent goes through a rigorous training course before they can answer calls, and we’ve got quality assurance down to an art.
Learn more by visiting PATLive.com/biggerpockets!
Fire Round Sponsor
A huge thanks as well to our Fire Round sponsor FreshBooks.
FreshBooks customers spend less time on paperwork, freeing up 2 days per month to focus on the work they love. What would you do with that extra time?
Learn more by visiting FreshBooks.
In This Episode We Cover:
- The new book that will help you save money
- Who Amanda Han is and how she became CPA to an investor
- Why the Tax Code is a language on its own
- The importance of working with a CPA in regard to the Tax Code
- The big list of people who screw up their taxes
- Getting the right legal entity on the first deal
- The two things to ask your CPA
- Legitimate tax deductions you should know
- Getting deductions from equipment
- What you should know about the home office deduction
- Other neglected deductions
- A discussion on income shifting
- Why you need to make sure you keep receipts
- How to figure out if an activity is deductible through a CPA
- Important retirement strategies
- What you should know about self-directed investing
- The basics of a 401(k)
- The tax deferred and leverage concepts all rolled into one
- Tips for getting benefits from depreciation
- Entities and mistakes people make with them
- How having corporations save on tax
- Why you need proactive planning
- And SO much more!
Links from the Show
- BP Podcast 049: Real Estate Tax Tips, Jokes, and Loopholes With Amanda Han
- BP Podcast 011 : The Ultimate Beginner’s Podcast For Real Estate Investors
- BiggerPockets Podcast
- 4 Depreciation Tax Mistakes Investors Need to Avoid
- BiggerPockets Webinar
- BiggerPockets Store
- BiggerPockets Forums
Books Mentioned in this Show
- The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
- Rich Dad Poor Dad by Robert Kiyosaki
- The 4-Hour Workweek by Timothy Ferriss
- “Within the Tax Code, there are a lot of loopholes.” (Tweet This!)
- “As long as you can show that it is necessary for your business, it should be a tax reduction.” (Tweet This!)
- “Depreciation is not a choice.” (Tweet This!)