All Forum Posts by: John Malone

@John Vietmeyer to clarify, has this already been established as a QOZ property. In other words, did you establish the fund around this and fund with a cap gain?

@Chris Look of course happy to help!

@Mary Jay the answer is complex. Beyond RE, there are a lot of HNW strategies to deploy.

Do we have tax strategy clients that have completely eliminated their tax? Yes, the concept of “tax free wealth” some may say.

However, this is not extremely common and the lessons of Rich Dad should be to think this way, but have realistic goals.

For example, it could be as simple as saving $3,000 per year in taxes by working with your advisor and reinvesting that at 7% etc. Everyone has to start somewhere!

@Ren Lok what was your engagement for? As Chris mentioned, you may want to look for a RE accounting firm that has a year round model vs one off prep

@Chris Look rough calc we usually see is 25-35% building basis (less land) is eligible. For 23% the law is 80% vs 100% in 22.

@Chris Look hey Chris, this post will answer for you! We've worked with dozens of STR investors in these scenarios and the tax benefits can be lucrative done correctly

https://www.biggerpockets.com/topics/1056436

 There are a ton of great tax strategy focused advisors on the forums here.  Otherwise, look to connect with other investor who work with RE focused teams...ideally those that are strategy "first" groups.  

@Phil Contreras nope but you’ll need to file a few extra forms

@Mike Stevens previously discussed in this post

https://www.biggerpockets.com/topics/1056436

@Nicholas Chan should flow up through the structure to protect the formalities