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#44 - Mastering Year-End Tax Strategies: From IRA Conversions to Short-Term Rental Loopholes
Manage episode 387797832 series 3455084
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In this week’s episode of the Passive Income Pilots, Ryan and Tait take on another one-on-one conversation. They discuss various year-end tax strategies to maximize deductions and reduce tax liability. They also explore the short-term rental loophole as a tax strategy and discuss the benefits of cost segregation studies and bonus depreciation. Tait shares his experience of buying a property for short-term rental purposes. They discusses the tax write-offs and deductions of owning a rental property and highlights the financial benefits. Tune in and enjoy!
Timestamped Show Notes
(4:25) Maximizing retirement contributions
(5:15) Using gains and losses strategically
(7:22) Converting traditional IRA to Roth IRA and valuing IRA investments for conversion
(13:20) Planning investments for the next year, extending tax returns, and preparing K-1s
(16:06) Revaluating investments for depreciation
(17:34) Year-end tax strategy: short-term rental loophole
(27:52) Cost segregation study and bonus depreciation
(36:38) The Stoke House: the overall experience
(39:22) Outro
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Legal Disclaimer
The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions. The hosts, Tait Duryea and Ryan Gibson, do not necessarily endorse the views of the guests featured on the podcast, nor have the guests been comprehensively vetted by the hosts. Under no circumstances should any material presented in this podcast be used or considered as an offer to sell, or a solicitation of any offer to buy, an interest in any investment. Any potential offer or solicitation will be made exclusively through a Confidential Private Offering Memorandum related to the specific investment. Access to detailed information about the investments discussed is restricted to individuals who qualify as accredited investors under the Securities Act of 1933, as amended. Listeners are responsible for their own investment decisions and are encouraged to seek professional advice before investing.
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