Tax Benefits of Real Estate

[Cody Johnson-Winsett]

Hey there BP Nation! So I've been doing my research, taking in as much as I can and I hear of the many tax right offs and benefits to real estate investing, but there isn't much detail. Now understand I just turned twenty and I unfortunately did not grow up in Robert Kiyosaki's ideal education system so I am just starting out with one of the two things promised to me...taxes! Could y'all help my out in giving more insight into the positive effects of taxes for myself with real estate properties and projects?

[Karen O.]

The author of Tax Free Wealth is Tom Wheelwright.  He is the go too guy for R. Kiyosaki as mentioned above.  

However, if REI is to be in your future, know that paying taxes means you've made income subject to them and that's not a bad thing. Also, know that tax laws change and so unless you're going to be a CPA, you don't have to know it all.

Still, I suggest you start a little closer to home with Amanda Han & Matt MacFarland's Book on Tax Strategies published by BP.  I'd also suggest you "follow" them and Brandon Hall on BP.  They've been BP podcast guests and have written a number of helpful blogs.

Good luck.