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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! - Paperback | Diverse Reads

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!

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Powerful techniques anyone can use to deduct more, invest smarter, and pay far less to the IRS!

Are you dreading tax season? Not sure how to maximize deductions for your real estate business? CPAs Amanda Han and Matthew MacFarland share the practical information you need to not only do your taxes this year, but to also prepare an ongoing strategy that will make your next tax season that much easier.

It’s time to take control of the bookkeeping practices for your real estate business. Start saving thousands with a great tax strategy!

In this book, you’ll learn:

  • Creative methods to maximize your tax deductions
  • Clever ways to write off your kids
  • Strategies to write off every penny on your travel
  • Easy tips and tricks to cut down on bookkeeping time
  • Simple procedures that will protect you from an IRS audit
  • And much more!
    •

    ISBN-13: 9780990711766

    Media Type: Paperback

    Publisher: BiggerPockets Publishing

    Publication Date: 02-18-2016

    Pages: 191

    Product Dimensions: 5.90(w) x 8.90(h) x 0.50(d)

    Series: Tax Strategies #1

    Amanda Han of Keystone CPA specializes in creating tax-saving strategies for real estate investors. She is certified by the CA State Board of Accountancy and is a member of the prestigious American Institute of Certified Public Accountants (AICPA) with clients across the nation. As a real estate investor of more than ten years, she combines her passion of investing with her tax expertise to help others supercharge their wealth and keep more of what they make. Her cutting-edge tax strategies—including entity structuring, self-directed investing, and income-offset opportunities—have been featured on prominent platforms including Money Magazine, Realtor.com, and “Talks at Google.” Amanda is the co-author of the Tax Strategies series, including the bestseller Tax Strategies for the Savvy Real Estate Investor, which has sold more than 50,000 copies. Amanda currently lives in Fullerton, CA. Matt MacFarland is a CPA of more than 20 years that specializes in tax strategies for real estate, self-directed investing, and individual tax planning. He has also invested in real estate for more than 10 years with a focus on long-term hold residential and multi-family assets. As both a tax strategist and real estate investor, Matt focuses on the development of tax strategies for real estate investors across the nation—including retirement investing, entity structuring, expense maximization, and income offset strategies to help reduce the investor’s tax burden. Matt is the co-author of the Tax Strategies series, including the bestseller Tax Strategies for the Savvy Real Estate Investor, which has sold more than 50,000 copies. Matt currently lives in Fullerton, CA.

    What People are Saying About This

    From the Publisher

    PRAISE FOR THE SERIES

    The Book on Tax Strategies for the Savvy Real Estate Investor

    The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors

    “Amanda and Matt explain the tax benefits of real estate in a way that even the most novice investor can understand, and they give both new and seasoned investors alike the tools necessary to put these strategies to work to start saving money immediately. This book is a must for any investor’s bookshelf.”
    —J Scott, Author of The Book on Flipping Houses and co-host of The BiggerPockets Business Podcast

    "You can't even get your CPA to listen to your voicemail message for the cost of this book. Your savings begin just by purchasing and reading this before you meet with your CPA to ask questions on the clock!"
    —Brian Burke, CEO of Praxis Capital and author of The Hands-Off Investor

    “Matt and Amanda are top-notch professionals with whom I have been associated for many years. Their clientele demands answers to the most current changes in the tax code, and their new book gives all of us a big advantage in creating strategies that will save us money and help keep our wealth!”
    —Bruce Norris, Investor, philanthropist, and host of the award-winning Norris Group Real Estate Radio Show

    “The only certain things in life are death and taxes. Thankfully, Amanda and Matt have made the latter much less of a sure thing! This book has a down-to-earth yet informative style that makes it fun and easy to read, while also helping to save real estate investors BIG money.”
    —Brandon Turner, Bestselling author of The Book on Rental Property Investing and co-host of The BiggerPockets Podcast

    “If you want to learn how to embrace the tax code and make it work for you instead of against you, this book is a must read. With The Book on Advanced Tax Strategies, you don't have to fear tax time or feel hopeless about the checks you'll write to the government each year. This is a brilliant tool that will help you keep more of your hard-earned money!”
    —Elizabeth Benton, Business owner, podcaster, and bestselling author

    “Matt and Amanda knocked this one out of the park! [They] lay out a… clear understanding of the rules of self-directed investing, whether in an IRA or in a Solo(k). The book goes deep into the upside of tax-free and tax-deferred retirement savings as they illustrate the financial benefits. Want to invest your retirement funds outside of Wall Street? Read this book first!”
    —Kaaren Hall, CEO of uDirect IRA Services, LLC

    Table of Contents

    Introduction 3

    Deductions 13

    What Can You Really Deduct? 15

    Dare to Deduct That? 21

    A Clever Way to Write Off Your Kids 29

    Writing Off Every Penny Of Your Vacation 35

    Maximizing Your Write Offs of Travel Expenses 43

    Squeezing the Most Benefit from Your Home Office 49

    Entities 57

    Your Legal Entities the Right Way 59

    Legal Entity Lies Exposed 65

    One Size Does Not Fit All 77

    How to Wake Up from Your Bookkeeping Nightmare 79

    Retirement Planning 91

    Taking Control of Your Retirement Money 93

    Using Retirement Accounts to Fund Your Investments 101

    One Big and Costly Mistake 109

    IRS Pitfalls 117

    Depreciation: A Powerful Tax Tool for Real Estate Investors 119

    How to Gift Properties to Your Family and Not the IRS 129

    Getting the 1RS to Help Cover Your Real Estate Losses 137

    Explosive Tax Landmine for Fix and Flippers 145

    Guilty Until Proven Innocent 151

    Conclusion 161

    Putting it All Together 163

    Appendix A Tax Freedom Day 171

    Appendix B Glossary 173

    Acknowledgments 191

    More from Biggerpockets 193