In this new “What I Learned...” episode of the Passive Wealth Principles Podcast, Jake Harris breaks down his interview with Amanda Han, CPA, Tax Strategist and Managing Director of Keystone CPA Inc. She is also the author of, "The Book on Tax Strategies for the Savvy Real Estate Investor," and "The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors," as well as a contributor to Money Magazine, Google Talks, and CNBC.
As always, Jake shares some of the insights he gained from his conversation with Amanda.
You'll discover the journey that Amanda and her husband embarked on to create their own firm, from entering the real estate business to discovering that their strengths lay not in negotiation, but in taxes.
Jake discusses some of the tips and strategies Amanda shared, such as how you can write off interest, and how you can use short term rentals to offset short term losses.
You will learn how Amanda and her husband have been able to take the very complex IRS tax code, and break it down into more simplified terms for the benefit of her clients.
Jake will also talk about situations when you can't 'unring the bell,' such as when you transition and sell a property, pay the taxes, but realize that you didn't do a 1031 exchange. You can't go back and correct that error. There are unfortunately certain things that you can't do outside of the calendar year.
Listen now and enjoy!
What You’ll Learn in this Show:
- Why Amanda and her husband decided to start their own real estate investing business.
- How you can start carving out tax savings without having to change your lifestyle.
- Why it's so important to have a tax strategist and tax planner involved, particularly as you begin to make more money.
- The opportunities that appear when you have a tax strategist and a planner working on your behalf.
- And so much more...