How to Pay Little or Nothing in Taxes as a Realtor or Real Estate Investor

We all have a common problem - taxes! They are usually our biggest expense each year and many of us pay more in taxes than we do for healthcare, housing and food.

Join us for this informative session that will provide you with strategies on how to reduce and sometimes eliminate your biggest expense each year - taxes!

Presented by Ryan Bakke, CPA

https://twitter.com/learnlikeacpa

https://open.spotify.com/show/6IWCaoz8uRc86CAubE8AAG?si=d193aa32a68c4c72&nd=1

Ryan is a 25-year-old real estate investor, CPA and owner of MLS Consulting PLLC. He has helped clients save millions of dollars in taxes over the last 3 years through tax strategy and has helped to educate thousands of people about the various tax strategies available for real estate and business owners.
In addition to his tax strategy consulting business, he also owns a portfolio of multi-family housing, luxury short-term rentals, an RV Park and a Glamping Campground.

00:00:00 The introduction of panel members

00:01:54 Ryan Baker's background and expertise 

00:03:31 Ryan Baker's presentation on tax strategies

00:11:57 Depreciation and tax benefits of short-term rentals 

00:12:57 Cost segregation study and accelerated depreciation.

00:14:06 Factors to consider when deciding to accelerate depreciation. 

00:22:15 The qualification criteria for short-term rentals

00:28:07 Considerations for buying investment properties 

00:30:15 Building a team and doing proper calculations 

00:32:21 The importance of LLCs for rental real estate 

00:33:37 Tax benefits of different financing options 

00:35:35 Using retirement accounts for real estate investment

00:44:21 The timing of events and deferring recognition of income 

00:42:26 Seller financing and stretching out capital gain 

00:46:17 Income shifting and utilizing Roth IRA for children

00:52:48 Ryan's accessibility and local expertise 

00:53:38 The importance of knowledge and confidence in real estate

People, Not Titles podcast is hosted by Steve Kaempf and is dedicated to lifting up professionals in the real estate and business community. Our inspiration is to highlight success principles of our colleagues.

Our Success Series covers principles of success to help your thrive!

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