Tax Planning is 100% legal and allowed by the IRS. In fact, the IRS’ legal loopholes that it provides to small business owners is what forms the basis of Tax Planning.
Tax planning encompasses maximizing deductions, choosing the right entity structure, retirement planning, insurance and asset protection, loopholes, the CARES Act, real estate specific strategies and some advanced tax saving strategies, tax advantaged wealth management, exit and capital gains and much more. Here are three of the hundreds of tax savings strategies below:
OWN SELF DIRECTED RETIREMENT ACCOUNTS SUCH AS A SOLO(K) ACCOUNT
Have a custodian
Open a self directed retirement account such as a Solo(k) and
Invest in a property down the street or invest in
Oil & natural gas investments, SFH, MFH, duplexes, triplexes, REITs, LLC stakes, Promissory Notes even invest in cousin’s start up business and much more.
Unlimited Benefits Of Having A Solo(K) Account
Not many Investors, Syndicators, Landlords, CPAs and Accountants know of it.
Who can have a Self Directed Account?
TAKE ACCELERATED DEPRECIATION ALSO KNOWN AS COST SEGREGATION ON YOUR RENTAL PROPERTIES
Did you know that…
It’s possible to create depreciation deductions of up to 20%-40% of the purchase price of the real estate.
Cost Seg defined
Cost segregation is a valuable tax strategy for real estate investors that is designed to accelerate depreciation expense into current years rather than waiting to take it slowly over time.
LIVE AND INVEST IN THE SOUTHERN STATES, TAX FREE STATES AND EVEN INLAND AMERICA. TAX FREE STATES ARE TEXAS, FLORIDA, NEVADA, NEW HAMPSHIRE, WYOMING, TENNESSEE ETC. AND AVOID CALIFORNIA, DC AND NEW YORK.
Moved to states with a high cost of living such as California ,DC, NJ or New York to get a job or start a business.
Move to the southern states or even tax free states. Living in such states means low cost of living, low real estate value, low down payments, low property taxes and lower taxes overall.
Tax Free States such as:
So as an Investor or a Landlord...
If you use self-directed retirement accounts for investing and diversifying your portfolio and
In order to schedule a Tax Planning session, we will need a copy of your last filed tax return and perhaps an additional questionnaire. A proposal will then be prepared that will include the following details: