#47 with Amanda Han: Tax Strategies for Building Wealth Faster

Millennial Millionaire Real Estate Podcast

English - August 10, 2020 19:44 - 1 hour - 134 MB - ★★★★★ - 56 ratings
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Previous Episode: #46 with Cory Binsfield: Buy and Hold BRRRR Investor and Scaling to 100 Units

Next Episode: #48 with Jesse Fragale: How to Utilize Social Media to Scale Your Real Estate Business

In this episode, Jonathan Farber interviews Amanda Han on her journey from a big tax firm to her own tax advising business that caters to tax strategy for real estate investing. Amanda is an Orange County-based real estate tax expert who uses entity structuring, self-directed investing, and income offset opportunities to help her clients build wealth faster. In this episode, we get into topics like investing considerations, getting smarter about investing, tax mistakes to avoid, and more!

Top Takeaways:

What to consider when entering an investment or partnership - 30:30 - 32:45

What is your exit strategy; how or when are you going to leave the property?

What is the worst-case scenario? What would you do if that happened?

Who will be responsible for the various responsibilities?

How to get more knowledgeable about your investing - 33:00 - 36:00

Early in your investing career is the best time to start planning

Using a smart tax strategy from the start of your career can save a lot in the long run

This also helps avoid common pitfalls and tax traps

Tax mistakes to avoid - 36:30 - 40:00

Investors often miss out on deductions due to missing overhead expenses

Containing your properties in an entity is not necessary to write off business expenses