You either have an LLC that you utilize correctly, or you might as well not have one at all. On today’s episode, we talk with Amanda Han, tax strategist, investor and author, about how you can use real estate to reduce taxes.
There are many misconceptions when it comes to real estate and taxes and our guest is here to set them straight. We discuss with Amanda how you don’t need a legal entity to take real estate related deductions, the benefits to lending out of your IRA, tax strategies used in short-term rentals, and how to qualify as a real estate professional in the eyes of the IRS. Amanda also shares with us that it’s okay to outgrow your CPA and the importance of working with one that is well versed in real estate.
As both a tax strategist and real estate investor, Amanda Han combines her passion of real estate investing with her expertise knowledge in tax strategies. Her goal is to help investors with strategies designed to supercharge their wealth building using entity structuring, self-directed investing, and income offset opportunities to keep more of what they make. Amanda has a highly rated book Tax Strategies for the Savvy Real Estate Investor on Amazon and she has been featured in prominent publications including Money Magazine, Talks at Google, CNBC’s Smart Money Talk Radio as well as BiggerPockets podcasts. Amanda and her husband Matt MacFarland have a passion for animals and founded Animals for Armed Forces, a non-profit organization that has helped to place over 1,500 shelter pets with forever homes.
On today’s episode, we discuss a ton with Amanda including:
Common real estate related tax deductions investors can take Common mistakes people make when it comes to saving on taxes How cost segregation can help and when to do it Ways to supercharge your retirement investments Short-tern rental tax benefitsBooks/Resources
Rich Dad Poor Dad by Robert Kiyosaki
Build a Business and Not a Job by David Finkel
Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
Contact Information
Negotiation skills is by far one of the hardest yet most important skills to have in real estate investing. We are excited to be offering a powerful LIVE training on Negotiating from the team who wrote "Never Split The Difference!" by Chris Voss, the #1 Best Selling Book on Negotiation.
On March 25th at 7 pm EST, we are hosting a powerful training Chris’s top trainers Sandy Hein, Negotiation Instructor and Coach at The Black Swan Group. She was police officer and even had 10 years as a hostage negotiator. She has tailored her LIVE training to the InvestHER community and you will be able to submit your questions during Q&A.
You can't miss this powerful event!
Limited seats available.
Click the link below to save your seat today.
https://www.therealestateinvesther.com/offers/YBcF9j7L/checkout
InvestHER Community
Our mission is to support and inspire women real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in person communities where women have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all woman investors achieve her financial freedom goals on her own terms.
How To Join the InvestHER Movement
1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves.
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We have 2k+ members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!
3) InvestHER Meetups Around the Globe
We have over 4k+ meetup members attending close to 25 InvestHER Meetups across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE!
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