Today hosts Braden Cheek, Brian Duck and Joel Thompson discuss a commercial real estate tax secret that could save you tons of money!
Time Stamps: 0:00 - Introduction to the episode 1:22 - Closing deals in Henderson, Nevada, and touring properties in Las Vegas 2:25 - Site tour in Jacksonville, Florida, and excitement about a new deal 3:30 - Teaser about the main topic: taxes in real estate investing 4:35 - Introduction to the concept of being a real estate tax professional 8:52 - Criteria for qualifying as a real estate professional: More than 50% rule and the 750-hour requirement 11:02 - IRS stipulations on qualifying activities for real estate professionals 12:06 - Discussion about the single taxpayer requirement and the exception for married couples 14:19 - Mention of IRS requirements for documentation and the importance of justifying real estate professional status 15:30 - Recap of the benefits and savings for those who qualify as real estate professionals 17:54 - Clarification that being a real estate professional doesn't grant additional write-offs but enhances the use of existing real estate investments 19:00 - Final thoughts on the significance of being a real estate professional for tax purposes
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https://podcasts.apple.com/us/podcast/how-to-invest-in-commercial-real-estate/id1543470290
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