Secret Tax Hacks

If you want to save money on taxes, you'll have to proactively plan year-round. Wealthy people are very intentional in their taxes, and work alongside great CPAs in order to follow incentives written legally in the tax code!

In this video, I'm sharing secret tax hacks for real estate investors! We'll talk about creating businesses, becoming an active investor, cost segregation, and more! If you want to learn more about legal tax loopholes for real estate investors and business owners, this video is for you!

Download our FREE Freedom Cheat Sheet here ➜

🎧
Follow me on social media!

Want to Get Started With Real Estate Investing? Watch our Getting Started Playlist:
DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.

[larrysmith]

this has to be one of your best videos. I dont do buy or sell anything if not through my LLC and my 9-5 friends and family dont get it.
Im not rich and still greatly benefit from the tax code. Instead of people fighting the system. LEARN IT!!!

[idariousosborn]

I really wish I could have these types of conversations with those that are close to me in life. They either won't listen or are simply afraid to take a chance on change.

[sandrogonzalez]

I love the way you put it, the tax code is written for the entrepreneur. Most people say that it is written for the rich. I found a new way of saying it 👍🏼

[musicman]

I owned my own trucking company at one time. It was a C corp. I grossed 500, 000 a year and paid no taxes at all.

[kenyonbissett]

I remember reading an article about a couple who owned and operated a restaurant. They owned the land, building, fixtures and the restaurant service. It was set up as all one business. They were struggling. They work with a business consultant that separated out the real estate as two businesses- the land and the building. They also separated out the fixtures as a business - furniture, tableware, appliances, etc. The restaurant was separated into two businesses - take out and eat-in food; the second was the catering business. By doing this they protected from creditors and lawsuits the different businesses. It also created a host of new tax deductions. So just by changing the structure of their business into businesses they became profitable and could move forward with an expansion of the catering business. It was amazing to read this case study. I’m not saying hire a consultant just observing how restructuring can make a big difference.

[thomasjay]

This channel changed my life. Take Action!

[renaissancemaneric]

Only 453 likes?
That was one of the best tax explanations I've ever heard. Well done! Sharing!

[HeathAQUIST]

You’re very convincing. But I’d rather not spend 750hrs a year on my investments. If you run your rentals through an S-Corp, you will be required to perform payroll and you’ll have to paying Social Security and Medicare taxes on it. You’ll artificially increase your tax liability by essentially converting passive/unearned income into earned income. This advice does not make sense for most small investors.

[cheveyomusic]

im in escrow right now trying to get there, everything is pretty scary but this video definitely helped me, thank you

[SigMyers]

I have to give some kudos here for the clarity in your voice and speaking tone... This is a well done video and I appreciated the emphasis on how the tax code is written (for entrpreneurs) as well as your other points. Thanks! You got a new subscriber!

[magicbuskey]

Advice please: I have a paid off condo that has significantly appreciated in Denver Metro and it's worth about $200K. It's near bus lines and light rail. I have a good reliable tenant. Over the years I've earned a good rental income. The HOA mgmt company struggles, though. In fact, all HOA companies do because there aren't enough workers to do the work (lawn service, repairs, gutters, etc). The complex is 50 years old an in ok shape. It looks good but it needs a lot of maintenance with mature trees, aging buildings, etc. I've been on the board for 7 years and I'm really tired of it. I have to step in a lot to help out with vendors because it's too much work for the HOA management company. Furthermore, I play a game of the vendors try to fleece us and I try to catch them doing it. I've stopped so many errors that I'm afraid to leave the board. This is part of my retirement income so I don't feel I can step away from the HOA and turn it over to a management company. If you were in my situation, what would you do? I've been tempted to just cash out and move on but that's not very smart financially. Please, any suggestions would be helpful. Examples: leverage it, 1031 single family home pay cash, 1031 multiple units financed, convert to primary residence? Any advice?

[joshmnky]

I'd like more detail on the business structure here.
If "A" is the holding company, "B" your real estate sub company, and "C" your book sales sub company, how does depreciation in "B" help "A" or "C"?

[braapfamilyvlogs]

Something I’m struggling with is filing taxes for this year. I bought 4 rental properties this year and 1 last year with bank loans. I wanted to keep going but the banks have pretty much cut me off because they want them to season and see my returns. When talking to the lender he advised from a banks point of view that I only claim depreciation and interest but not to claim any repairs and maintenance. The reason being he said, that if it looks like I took to much loss that it might effect me getting future loans with them. What are your thoughts on this? Should I consider his advice?

P.S. I love all your videos and podcast by the way. They are a huge reason I got where I am so quickly this past year!

[yoshikagarner]

Sir, this information you have provided is golden! I started my real estate investment company in January of 2019. I will be applying what I have learned in this video to my business ASAP! Thank you and I appreciate the wealth of information you provide to us!

[mikedr]

Have you addressed the fact that you fled the US to avoid ARREST? Just curious if the news article is wrong?

[crown]

Where are you currently purchasing rental properties at?

[FrediyPtv]

I have a business and a rental property I’m an artist and producer and i Engineer at a studio so i get a 1099 is that the same as w2 or can i still partner with the government 🤔

[MichaelMilord]

2 minutes in, and you explained the tax situation better than everything else I heard out there. It makes perfect sense, what you own is a piece of land or service that the government no longer needs to provide, therefore you are in partnership for the well-being of the people you serve. You should get a tax benefit for that.

If hardline republicans explain it like you have, then progressive democrats like me (who have brains) may understand the nuance. I am still for public programs and helping those who cannot, but understand the system at play, and utilize it to then go and help others.

[M_B_]

This is a great explanation! Can you make a video as far as what happens when you have what you want and it’s time to “retire” or you’re ready to end your business side. How does one liquidate a business and what are the tax consequences then? Is there any?

[seeyaatthebema]

This is pretty exciting. I started an LLC for my house cleaning biz.... it's just me tho....
Im going to a first time home buyers class this morning.