Mar 29, 2021
In today’s show, Pancham once again interviews Brandon Hall - founder and CEO of The Real Estate CPA.
Brandon is a firm believer that real estate investing is crucial to building wealth - and tax planning is one of the important factors to consider when generating wealth. And with the new administration, changes are bound to happen.
In this episode, Brandon is back as he predicts what the future holds with the upcoming new administration and the tax laws. He will also share golden nuggets in terms of understanding the power of a real estate professional status and how it can benefit you!
Listen and enjoy the show!
Quote:
"Nobody has the crystal ball and can predict what's gonna be implemented and when it’s going to be implemented and that’s the challenge.”
Timestamped Shownotes:
- 1:11 - Pancham introduces Brandon to the show
- 2:34 - Changes to be expected in tax laws (and why it mainly impacts high-income earners)
- 8:03 - His judgement on the additional tax programs and how it will play out
- 9:42 - Benefits of the changes to people who has financial struggles
- 12:05 - Why you should not rush things and just wait for what will happen
- 15:04 - How the tax laws will not affect your real estate professional status
- 17:32 - How investors can leverage and offset their active and passive income
- 24:21 - What it takes to be a real estate professional (and real-life cases to guide you!)
- 36:41 - Where you can apply for a 5-week Tax Strategy Foundation Course
3 Key Points:
- Explore different options on what you can do today so you can reduce your overall income to be able to prevent tax increases
- There’s a lot of risks when it comes to being proactive since no one really knows what will happen. Focus on investing in a smart manner instead of risking a lot.
- There’s a lot of challenges in applying to be a real estate professional but if you are qualified to be one, go for it since it has a lot of useful benefits.
Get in Touch:
- Enroll in their Tax Strategy Foundation Course at http://thegoldcollarinvestor.com/cpa
- The Real Estate CPA Website - https://www.therealestatecpa.com
- Tax Smart Real Estate Investors Facebook Group - https://www.facebook.com/groups/taxsmartinvestors
- Watch The Gold Collar’s Episode with Brandon Hall here at https://thegoldcollarinvestor.com/show4/
- Pancham Gupta Email - p@thegoldcollarinvestor.com
Book:
Rich Dad’s CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom by Robert T. Kiyosaki - https://www.amazon.com/Rich-Dads-CASHFLOW-Quadrant-Financial/dp/1612680054