I had the pleasure of interviewing my friends Amanda Han and Matthew MacFarland, authors of The Book on Tax Strategies for the Savvy Real Estate Investor.
Amanda and Matt are the husband and wife CPA team behind Keystone CPA, a certified public accountant practice that specializes in helping real estate investors create plans that keep more of their cash and give less to the IRS. In addition to advising real estate investors every day, Matt and Amanda are also real estate investors who understand the power that tax savings can have on the growth of an investment.
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What This Interview Covers
We talk about:
- Can I write off expenses incurred when investigating the purchase of an investment property (e.g. travel, inspections) if I ultimately decided not to purchase the property?
- How does tax strategy or planning differ from just doing taxes retroactively?
- What software do you prefer your client to use to track their expenses?
- How can we write our kids off? Economically and also emotionally?
- How should someone pick a CPA?
- What are some common mistakes CPAs might make when doing a real estate investor’s taxes?
- How can I write off my vacation?
- Do I need an LLC? Why should I have one? And when it does make sense to go without one? If I’m buying my first property, can I get away with not having an LLC? Does a legal entity mean more tax deductions?
- And much more!
Also, if you missed my last interview with Gino Blefari, the chief executive officer for HSF Affiliates LLC, you can find it here.
Have any questions about the topics covered in this interview?
Let’s talk in the comments section below!