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WEALTH BECAUSE OF THE TAX RETURN with guest CPA, Lloyd Ippolito
Manage episode 422075202 series 3457427
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Doctors, the main purpose of this podcast is to help you build wealth inside and outside of your practice so that you have consistent cash flow for generations to come.
You don't want to miss opportunities to increase your financial knowledge and what a great way to do so, "on your time," by listening to these podcasts.
Join us with guest CPA, Lloyd Ippolito as we discuss ways to save taxes and also through investing in real estate as a way to diversify and bring tax advantages along the way.
If you are a physician that is a W-2 employee or a business owner with your own practice, Lloyd Ippolito, CPA, and Kevin Sullivan, AIF® discuss ways in which you both can invest and save taxes.
Some questions from the podcast:
1. It's been said that the quickest way to wealth is to save money in taxes......
2. Lloyd, In light of tax savings, talk about the doctor that is a W-2 Employee versus a doctor that is self-employed in their own practice......
3. Let’s talk real estate for a moment.....
We often hear the words “financial freedom” when people discuss investing in real estate.......
b. If doctors would like to build wealth using real estate, what kind of tax advantages would that bring to the table?
c. Give me an example of how taxes could be reduced, how depreciation would work and potential appreciation in the property and how that plays out over time with real estate.
4. If doctors are working in an office building that they own, should they own the building in their own name, or in the same business name they run their practice out of, or should they have that building in a separate LLC?
5. What if a doctor has more than one real estate property.......?
Lloyd Ippolito, CPA - Master Tax Services LI, LLC
Tom Wheelwright, CPA
Wealthability Site
PODCAST INFO
Kevin R Sullivan, AIF® - Founder - Wealth Advisor, and the host of this podcast
K D Sullivan Wealth Strategies.
112 Clinton Ave.
Winslow, ME 04901
Email: kdsullivan@lpl.com
Contact: 716-970-4448
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Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC.
The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.
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