Fri, 17 August 2018
Real estate was a big winner in the tax reform bill passed in December 2017. So, how exactly do the new laws impact us as passive multifamily investors and syndicators? And how can we take advantage of the new regulations and use the available incentives to reduce the amount of money we owe the government?
Tom Wheelwright, CPA is the CEO of WealthAbility, a community of CPAs dedicated to reducing taxes and creating wealth for their clients. As a Rich Dad Advisor for Robert Kiyosaki, Tom is a well-known keynote speaker in the realm of wealth building and tax strategy. He is a regular contributor to publications including Forbes, The Huffington Post, Entrepreneur Magazine and Inman News, and Tom is the author of Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes.
Today, Tom joins me to explain how to shift the way you think about taxes, viewing the law as a roadmap to reducing how much you pay. He discusses the new laws around bonus depreciation, describing how both passive investors and syndicators benefit from the revised guidelines. Tom also shares the regulations around the 20% deduction and the changes in Section 179 that impact residential and commercial real estate investors. Listen in for insight around qualifying for the status of real estate professional and learn how to significantly reduce your taxes as a multifamily investor!
How Tom came to start his own network of CPA firms
How to shift the way you think about taxes
The new laws around bonus depreciation
How the new tax laws affect passive investors
How the new tax laws may impact syndicators
The changes around the 20% deduction
The changes to Section 179
How to qualify for the status of real estate professional
The tax benefits of being a real estate professional
Connect with Tom
Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes, Second Edition by Tom Wheelwright, CPA