72 min listen
569: Rich Dad's CPA Shares 5 Steps to Eliminate Income Taxes through Real Estate w/Tom Wheelwright
569: Rich Dad's CPA Shares 5 Steps to Eliminate Income Taxes through Real Estate w/Tom Wheelwright
ratings:
Length:
89 minutes
Released:
Feb 10, 2022
Format:
Podcast episode
Description
If you’re asking your CPA how to not pay taxes, this may be the perfect episode for you. In fact, this episode is geared towards anyone making money in real estate, and listening could save you a massive amount in taxes over your lifetime. But isn’t tax reduction only for the ultra-rich? How can the average, everyday investor who has one, two, or a dozen rentals keep more of their capital so they can invest in more deals?Tom Wheelwright is the exact man to ask this question to. He’s so good at what he does, that he’s been advising Rich Dad Poor Dad’s Robert Kiyosaki for decades. Tom is dedicated to minimizing the tax burden that he and other investors suffer from. If you’ve read Rich Dad Poor Dad, a lot of Tom’s strategy will sound familiar, but in reality, it’s what all intelligent investors are doing.In today’s episode, Tom walks through the biggest areas where real estate investors can cut their tax bills, how to generate losses through depreciation, building an investment system, and the five steps to eliminating income tax from your real estate deals. If you make money in real estate, no matter how, this is information you can NOT live without.In This Episode We Cover:Why rich investors pay fewer taxes than those who are employed or self-employedTax incentives vs. loopholes and why one is risky and the other is celebratedWhere investors can look to greatly reduce their taxable income How real estate debt gives investors far less risk in their dealsDeprecation, recapture, and how real estate gives you a leg up on income tax reductionWhether or not you should hold a real estate investment in an LLCAnd So Much More!Links from the Show:BiggerPockets WebsiteBiggerPockets Youtube ChannelBiggerPockets PodcastBiggerPockets Podcast 500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash ComingAmazonAirbnbInvest with David GreeneThe CASHFLOW GAME by Robert KiyosakiThe Real Estate Strategies Podcast with Ken McElroy: QUITTING Your 9-5 for Real Estate Investing (with BiggerPockets' David Greene)Ken McElroy's Official WebsiteRobert Kiyosaki's Official WebsiteListen to the full episode: https://www.biggerpockets.com/show569See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Feb 10, 2022
Format:
Podcast episode
Titles in the series (100)
#27: Fix and Flipping, Wholesaling, Marketing, and More with Jason and Katherine Grote: On today's episode of the BiggerPockets Podcast, we talk with the dynamic husband and wife team of Jason and Katherine Grote about their adventures in flipping and wholesaling, while specifically dealing with some of the unique ways they find deals... by BiggerPockets Real Estate Podcast