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How Real Estate Tax Benefits Can Transform Your Wealth w/ Thomas Castelli
Manage episode 439284645 series 3294740
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Discover how real estate tax benefits can transform your wealth with expert insights from Thomas Castelli! ποΈ As a seasoned real estate CPA, Thomas breaks down complex tax strategies that can significantly impact your investment portfolio. From leveraging depreciation and the 1031 exchange to understanding the power of real estate professional status, this episode is packed with actionable insights.
π Key Takeaways:
- Maximize tax benefits through strategic real estate investing.
- Understand non-cash expenses like depreciation to reduce taxable income.
- Explore the 1031 exchange for deferring capital gains taxes.
- Learn about the short-term rental loophole and its benefits.
Connect with Thomas Castelli and elevate your real estate investment strategy by visiting the realestatecpa.com. πΌ
π’ Join the Community: Subscribe to the REI Mastermind Network, support the show, and unlock exclusive offers to accelerate your journey toward generational wealth.
Remember, real estate investing isn't just about acquiring properties; it's about building a legacy. "The best investment you can make is an investment in yourself." - Warren Buffett
Don't forget to like, share, and review the podcast! Letβs transform your real estate dreams into reality. π
CHAPTERS:
00:00 - Intro
01:13 - Tax Benefits of Real Estate Investing
04:22 - Real Estate Professional Status
08:16 - Passive Activity Loss Rules
10:12 - Accelerated Depreciation Strategies
13:53 - Cost Segregation Explained
16:33 - Wholesaling and Fix and Flipping
18:46 - Short-Term Rentals Overview
21:26 - Importance of Real Estate Investing Tax CPA
25:09 - Common Lies Real Estate Investors Tell Themselves
26:01 - Recommended Books for Investors
26:32 - Advice for Your Younger Self
27:20 - Time-Saving Tools for Investors
27:45 - Outro
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