[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row column_structure=”2_3,1_3″ _builder_version=”3.26.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”28px||2px|||”][et_pb_column type=”2_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.4.1″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”||0px|||” hover_enabled=”0″]
hank you for checking out these show notes! If you haven’t already, make sure to:
Subscribe to our podcast and leave a review: Click Here
Subscribe to our Youtube Channel and comment on a video: Click Here
Check out our site, and download our “Free Guide to Becoming a Real Estate Investor”: Click Here
Follow us on instagram: Click Here
Affiliate link: https://bit.ly/fearlesstaxsmart
Website: www.therealestatecpa.com
Facebook Group: Tax Smart Real Estate Investors
Ep 248: #1 Tax Strategy STR owners don’t know about
0:00 – Tax loopholes that you need to be taking advantage of if you’re not leaving 1000s of dollars on the table don’t miss out on this. We’re talking with Ryan Carriere and Thomas Castelli of tax smart real estate investing podcast here on the fearless investor podcast.
2:09 – Dynamic Pricing is supply and demand and it says hey, if 90% of the market is booked on this day, and you’re not booked yet, we’re going to jack up your prices because the demand is really high on that day versus Hey, this phone is only booked at 10% So the demand is low.
6:23 – We do talk about that a lot when with my students, and that is some people really just don’t know what a good star rating is. So something just as simple as asking for the five stars makes a big difference.
7:23 – I think that you do some episodes on taxes every once in a while, but I came over, came on board, took it over via the weekly podcast and when we discussed there, it really attacked strategies and how to reduce and minimize taxes for real estate investors as a whole.
8:01 – So what we do sometimes, we also bring on investors, people who are in the game onto the show and interview them on what what their strategies are, what their what their best practices are to also help our listeners also not only reduce their taxes but grow their business because at the end of the day, everybody’s in this game to build wealth and, and all that so it all kind of ties in together both the business aspect of it as well as the tax act aspect.
9:48 – You’re gonna have something called an appreciation, basically you’re recovering the cost of the property, everything and that shows up as an expense.
11:06 – Basically, you’re getting a tax sale, you have a negative $1,000- $2,000 loss, which means containing taxes which is one of the best benefits of investing in real estate tax free cash flow, or taxpayers cash flow and then the second thing is now you have this class.
11:29 – Well, if you have a long term rental property, this looks pretty much gonna be considered what that means. We also have other passive income and can’t offset your portion.
19:40 – As we move down, you know, to a lower tax bracket or a lower purchase price, just because of the way the numbers work. It’s just a math equation. Right? It will be less effective, but for those, especially those higher brackets, higher numbers, yeah, it’s extremely effective.
20: 33- Usually an engineer is going to have to fly out to your property investor, the vocal team, so there’s travel expenses in there for them in the post segregation study.
21:40 – So your trip, traditionally costing the city again with the engineer, that might not cover the benefits that might not cover the cost. The benefit might not be if the juice may not be working.
21: 52 – But if you’re able to reduce your costs of that study by using a desktop study or software study, then it can become advantageous on Facebook properties that are five.
24: 09 – So, again, the way that I understand it, not every state has to be under seven days. It’s just that the average has to be seven days. So if I have a 30 day stay in three columns, one day stays, the average of that is right about that seven or eight days.
25: 04 – Substantial services will be things you find in daily breakfast. Even cleanings of rooms, and towards certain equipment, free, free brights, things along with things of that nature. So seven days, I mean, I think seven days kind of makes sense. Because if you’re traveling most people are traveling for seven days or less.
26:28 – So the short term rental we fall onto the course itself and break down everything you need to know about the short term, everything ins and outs it has citations to the tax court cases has citations to the tax code, everything you would need to have a conversation.
26:48 – There’s a lot of tricks and landmines being wary that if you don’t, you don’t thoroughly understand what you’re doing easy to blow this strategy up for yourself, because it is a loophole and there’s a fine line and so we the benefit is you’re going to know everything you need to know about after going through this course.
30: 09 – Anything to add to that I think, the nail on the head is basically the final draft, which is what you require to the most definitive material the patient has because it’s the most objective after hours, and you don’t need to worry about how much time anybody else spends.
[/et_pb_text][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.26.6″][et_pb_signup mailchimp_list=”undefined|” layout=”top_bottom” name_field=”on” title=”Download Your Free Starter Guide” button_text=”Yes! Please Send It” description=”
Want to start investing in real estate, but have no idea where to begin?
Get your free Real Estate Guide below.
” _builder_version=”3.26.6″ header_text_color=”#ffcd00″ body_font=”Poppins||||||||” background_color=”#262a23″ custom_button=”on” button_text_size=”16px” button_text_color=”#ffffff” button_bg_color=”#e09900″ button_border_width=”0px” button_border_radius=”44px” button_font=”Poppins|600||on|||||” button_custom_padding=”12px||12px||true|false” text_orientation=”center” border_radii=”on|17px|17px|17px|17px”][/et_pb_signup][/et_pb_column][/et_pb_row][/et_pb_section]
