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!
In This Episode We Cover:The new book that will help you save moneyWho Amanda Han is and how she became CPA to an investorWhy the Tax Code is a language on its ownThe importance of working with a CPA in regard to the Tax CodeThe big list of people who screw up their taxesGetting the right legal entity on the first dealThe two things to ask your CPALegitimate tax deductions you should knowGetting deductions from equipmentWhat you should know about the home office deductionOther neglected deductionsA discussion on income shiftingWhy you need to make sure you keep receiptsHow to figure out if an activity is deductible through a CPAImportant retirement strategiesWhat you should know about self-directed investingThe basics of a 401(k)The tax deferred and leverage concepts all rolled into oneTips for getting benefits from depreciationEntities and mistakes people make with themHow having corporations save on taxWhy you need proactive planningAnd SO much more!Links from the ShowBP Podcast 049: Real Estate Tax Tips, Jokes, and Loopholes With Amanda HanBP Podcast 011 : The Ultimate Beginner’s Podcast For Real Estate InvestorsBiggerPockets PodcastSenseFinancial4 Depreciation Tax Mistakes Investors Need to AvoidBiggerPockets WebinarBiggerPockets StoreBiggerPockets ForumsBooks Mentioned in this ShowThe Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarlandRich Dad Poor Dad by Robert KiyosakiThe 4-Hour Workweek by Timothy FerrissTweetable Topics:“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!)Connect with AmandaAmanda’s BiggerPockets ProfileAmanda’s Website