313: Beat the IRS at Their Own Game! TAX SMART Investing, The Real Estate CPA, Brandon Hall

Jason Hartman welcomes back Brandon Hall, CEO of Hall CPA to talk about tax strategies for real estate investors. If you're a real estate investor, you really have to know the passive loss rules - you can’t afford not to! As Jason always says, taxes are the single largest expense in most people's lives, yet people spend so little time understanding the tax code and learning how they can benefit from it. Brandon Hall shares multiple strategies and educates you on the ways you can significantly reduce and potentially even eliminate your tax bill through short term rentals and the passive activity loss rules of Section 469. Don’t miss this SPECIAL OFFER on Brandon Hall’s Tax Smart Foundation course at JasonHartman.com/taxsmart! Start your education today and use promo code HARTMAN for 50% off! Key Takeaways: 0:00 Welcome Brandon Hall, CEO of Hall CPA and TaxSmart Investors to talk about tax strategies for real estate investors 0:46 Taxes are the single largest expense in most people's lives 2:16 Brandon Hall, CPA, Tax Smart Foundation 3:13 Long term and short term rental tax loopholes 4:45 Section 469 of the Internal Revenue Code: passive activity loss rules 6:43 RE taxes when you sell a property 8:16 Depreciation recapture 9:03 Cash flow today that you're not paying tax on 10:14 Tax loss from your rental real estate - passive and non passive income 13:51 Most real estate is going to produce net operating income positive cash flow, while simultaneously producing a tax loss 14:30 Use your suspended tax losses from rental real estate to protect my tax benefit 16:20 Investing in short term rentals and real estate professionals 17:29 A short term rental is not a rental activity under Section 469 19:56 Top three material participation tests 21:06 Start self managing your rentals with software 22:58 Self managing is all about systems 23:43 The huge benefit of 1031 exchange 24:58 Qualifying as a real estate professional 28:46 Excess business loss rules 31:33 Bringing forward depreciation deductions through cost segregation 32:21 Losses can always offset business income or rental income 33:30 Biden tax plan 34:30 SPECIAL OFFER on Brandon Hall’s Tax Strategy Foundation course at JasonHartman.com/taxsmart! Use promo code HARTMAN for 50% off! JasonHartman.com/TaxSmart   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com