Are You an Active Real Estate Investor?
Investing in real estate really complicates your taxes. You probably already know that.
But real estate tax laws also provide investors with numerous tax savings opportunities. If you’re a real estate investor, for example, you probably have more opportunity that you even realize to create legitimate tax deductions that reduce your end-of-year tax bill. And many real estate investors also have opportunities to enjoy true, tax-free income.
Here’s the problem: Getting actionable advice about real estate tax loopholes is tricky. The Internal Revenue Service, for obvious reasons, isn’t going to help you cut your annual tax bill by thousands of dollars. And the typical tax accountant often doesn’t have time or expertise to provide the practical tips most investors want.
Which is why I’ve written “Real Estate Tax Loopholes & Secrets,” a 50pp e-book you can download and be reading in a few minutes. This e-book is packed with tips, tricks and techniques for real estate investors, including:
Basics of Real Estate Tax Accounting
The first three chapters in my short e-book cover the basics, including how you determine the taxable income or loss generated by an investment property, the ABCs of maximizing your real estate related tax deductions and tricks for avoiding the passive loss limitation rules.
Real Estate Capital Gains
Chapter 4 of “Real Estate Tax Loopholes & Secrets” provides tactics for lowering taxes on the sale of any profitable real estate investment. The chapter also reviews all the gambits available for eliminating taxes on profitable real estate investments. Chapter 4 also provides special tips for real estate flippers and for extremely long-term investors.
Vacation Home Tax Shelters
Chapter 5 goes over all the ways you can turn vacation homes and other recreational properties (including timeshares and boats) into tax shelters that produce either large deductions or tax-free income. If you own a second home, this chapter alone can save you thousands of dollars a year in taxes.
Converting Primary Residences into Rentals
In Chapter 6, I discuss the risks and rewards of converting a primary residence into a rental. If you’re thinking of turning your current home into a rental, don’t commit yourself to this course of action until you clearly understand the gigantic “primary residence to rental conversion” mistake you never want to make.
Using IRAs and 401(k)s for Direct Real Estate Investment
Tapping retirement savings accounts such Individual Retirement Accounts, self-directed 401(k) plans and Simple-IRA accounts for making direct real estate investments gets covered in Chapter 7. Some investors will want to use this funding source, but be sure you understand all the tax-related nuances of going this route.
LLCs and Incorporation
Chapter 8 talks about using LLCs and corporations in the right way for real estate investing, including the best state to incorporate in and when an S corporation can save you thousands in taxes.
Bonus Appendices on Real Estate Investment Analysis Techniques
The “Real Estate Tax Loopholes and Secrets” e-book also provides three bonus appendices that let investors think more precisely about their investing activities. Appendix A explains how and why to calculate income capitalization rates for residential rental property–and how to use this information to make smarter investment choices. Appendix B presents a simple approach for analyzing the economics of vacation homes. Finally, Appendix C describes how Microsoft Excel users can use more sophisticated investment analysis techniques like internal rate of return and net present value measures to assess their investments the same way that billionaires do.
In short, “Real Estate Tax Loopholes & Secrets,” gives you the inside scoop on how successful and smart real estate investors play the real estate investment game in a way that dramatically reduces the taxes they pay.
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