BiggerPockets Real Estate Podcast

162: How to Pay Less to the IRS with Amanda Han, CPA

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No one likes paying taxes, so let’s talk about how you can pay FAR less to the IRS! On today’s show, we sit down with real estate investor and CPA Amanda Han, the author of the brand new book The Book on Tax Strategies for the Savvy Real Estate Investors. In this powerful (and fun!) interview, you’ll learn about the biggest tax mistakes investors make when setting up — and running — their real estate business. This interview could literally save you thousands of dollars! Dig in!

In This Episode We Cover:

  • The new book that will help you save money
  • Who Amanda Han is and how she became CPA to an investor
  • Why the Tax Code is a language on its own
  • The importance of working with a CPA in regard to the Tax Code
  • The big list of people who screw up their taxes
  • Getting the right legal entity on the first deal
  • The two things to ask your CPA
  • Legitimate tax deductions you should know
  • Getting deductions from equipment
  • What you should know about the home office deduction
  • Other neglected deductions
  • A discussion on income shifting
  • Why you need to make sure you keep receipts
  • How to figure out if an activity is deductible through a CPA
  • Important retirement strategies
  • What you should know about self-directed investing
  • The basics of a 401(k)
  • The tax deferred and leverage concepts all rolled into one
  • Tips for getting benefits from depreciation
  • Entities and mistakes people make with them
  • How having corporations save on tax
  • Why you need proactive planning
  • And SO much more!

    • Links from the Show

    • BP Podcast 049: Real Estate Tax Tips, Jokes, and Loopholes With Amanda Han
    • BP Podcast 011 : The Ultimate Beginner’s Podcast For Real Estate Investors
    • BiggerPockets Podcast
    • SenseFinancial
    • 4 Depreciation Tax Mistakes Investors Need to Avoid
    • BiggerPockets Webinar
    • BiggerPockets Store
    • BiggerPockets Forums

      • Books Mentioned in this Show

      • The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
      • Rich Dad Poor Dad by Robert Kiyosaki
      • The 4-Hour Workweek by Timothy Ferriss

        Tweetable Topics:

        • “Within the Tax Code, there are a lot of loopholes.” (Tweet This!)
        • “As long as you can show that it is necessary for your business, it should be a tax reduction.” (Tweet This!)
        • “Depreciation is not a choice.” (Tweet This!)

          • Connect with Amanda

          • Amanda’s BiggerPockets Profile
          • Amanda’s Website

            • Learn more about your ad choices. Visit megaphone.fm/adchoices

            ...more
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