All Forum Posts by: Venkat R Uppuluri

2016-02-18-bp-podcast-162pay-irs-amanda-hancpa

Highly recommend to anyone considering Real Estate Investing. Awesome. She talks about:

• Do I need an Entity? LLC or S-Corp.
  • Don't be in the wrong type of entity
  • First – Asset protection benefit
  • Second – Tax savings benefit
    • Rental Real Estate – 1031 (same in LLC or personal name)
    • Syndicate - 15% or more in tax savings, self-employment tax (flippers may use this)
• Expenses for write off & deductions:
  • equipment & appliances,
  • home-office ($5 per sq ft.),
  • travel costs (related to business),
  • kids (income shifting by paying them to work for you, meaning business related),
  • membership, conferences & education, meal expenses for business,
  • retirement strategies (self directed investing, tax-free or tax deducted, 401K/IRA)
  • depreciation
• Pro-active Planning / Get a tax adviser
  • Talk to your tax adviser in advance
• Fire Out
  • Organize expenses, list questions, changes (buy, sell, etc. properties.)
  • Changing entity type from LLC to S-Corp etc.
  • HSA
  • Bonus depreciation
• The Book on Tax Strategies for the Savvy Real Estate Investor: Powerful techniques anyone can use to deduct more, invest smarter, and pay far less to the IRS. A book she wrote with her husband.
• Find her at Keystone CPA dot com.
  
• Venkat