EP36: Passive Investor's Guide to Maximize Real Estate Tax Savings with CPA Thomas Castelli

Think Outside The Stocks

Would you like to unlock the secret to reducing your tax burden through real estate investment with the guidance of a CPA and investor? Join me in today’s episode with Thomas Castelli as he shares his journey from being inspired by "Rich Dad Poor Dad" to becoming a real estate and taxation powerhouse. For any active income earner looking to delve into property investment or those already managing a portfolio, this episode is packed with strategies that can turn real estate into a cornerstone of your financial plan, all while staying on the right side of the IRS. We explore the tempting world of cost segregation studies and the gold mine of bonus depreciation, providing you with a blueprint to elevate your investment savvy. Whether you're a seasoned investor or just considering your first property, the tax insights from this episode can potentially revolutionize your approach to real estate.
Who is Thomas?
Ever since childhood, he had the entrepreneurial bug and a passion for business. This led to earning a Bachelor's in Business Management with a concentration in Accounting and landing a role with a national accounting firm.
Shortly before graduating, real estate investing caught his attention. He attended networking events and seminars, listened to podcasts, and read every book he could find on the topic. Armed with this knowledge, he invested in several properties as a passive investor before actively participating in the syndication of an 82-unit apartment community as a member of the sponsorship team.
By this point, he was more than convinced that real estate was not only one of the best investments he could make, but it was the industry where he wanted to focus his business career. Today, he combines his passion for real estate and his accounting background into his role as a tax strategist with Hall CPA.
Reach out:
https://thomascastelli.com/links
Show notes:
(2:38) Thomas’ 3 interesting facts
(7:10) Exploring the significance of tax strategy and planning for real estate investors
(10:47) Rental vs commercial properties depreciation
(13:30) Exploring cost segregation and bonus depreciation as powerful tools for tax savings in commercial real estate
(19:01) Discussion on potential changes in bonus depreciation rates and their impact
(22:01) Material participation in short-term rentals
(26:16) Examples and strategies for families to qualify as real estate professionals, including managing rental pro

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