Bonus Depreciation: The Real Estate Wealth Secret

n this episode of Just My Opinion, Jessica Duncan welcomes her trusted CPA to break down some of the most important financial topics for homeowners and professionals alike. Discover how understanding bonuses, depreciation, and tax strategies can make a real difference in your financial life.
Jessica and her guest dive into:
How to handle bonus depreciation and what they mean for your taxes
The basics of depreciation and how it can benefit homeowners and business owners
Real-world examples of maximizing deductions and avoiding common tax mistakes
The emotional side of finances, including how to manage stress and make confident decisions
Whether you’re curious about how to make the most of your bonus, want to understand depreciation, or just need practical advice for tax season, this episode is packed with actionable insights and relatable stories.

There’s no handbook to owning a home. That’s why Jessica Duncan with Scenic Sotheby's International Realty goes beyond the transaction to share tips to improve the homeowner experience.

Each week, the seasoned Gulf Coast realtor shares sound advice for smarter decisions in the areas of home maintenance, avoiding scams, refinancing, buying, selling, investing, increase your home value, downsizing, estate planning, Florida insurance, money saving hacks & building wealth.

Her area of expertise is the Florida panhandle including Pensacola, Gulf Breeze,Milton, Pace and Navarre. No matter what season of homeownership you’re in, Jessica Duncan Just my opinion is adulting made simple.

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Transcript

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This is Jessica Duncans. Just my opinion. And I'm Jessica. There's no handbook to owning a home. That's why I go beyond the transaction to share my tips, insights, and advice for adulting made simple. So we are continuing on. We just finished up rolling one amazing podcast that was all about the big beautiful Bill. And because there's so much to talk about, my amazing guest today, we decided to keep rolling and go even a little deeper. So I have an amazing guest with me, Jan Pacenta. We're gonna talk a little bit more about her in a minute, but what we are gonna be talking about today is bonus depreciation. So I wanna be very clear, this is not for. The basic homeowner. This is for someone who is investing in real estate. It is very targeted. If you ever plan to be an investor, though, this episode may also be for you, so don't just tune us out. If you ever want to be an investor, please stay tuned because you're definitely gonna wanna listen. To this. So welcome to the show again, Jan. Thank you for staying and recording another episode with me. Thank you so much for having me. I've enjoyed it. Perfect. So those who didn't listen to the last episode about the big beautiful bill, which you killed it on, let's talk a little bit about who you are so that they know and how to find you. I'm born and raised in Pensacola and live in Gulf Breeze. I have a husband and two children. I've been very active in community involvement over the years, which has brought me the greatest joy. I've started out with Junior League. I was Pensacola Theater Council on the Aging. I was a board member and treasurer. Impact 100 for four years as well as numerous other things along with my church. And what do you do for a living? I'm a CPA. Where? At Brown Thorn Placenta. Yes. I'm a partner and owner in that. And you are my personal CPA, my trusted advisor and who I call for all major purchases before I do any of them. So thank you so much for having, for being on the show with us and sharing your knowledge. We appreciate it so much. So. Alright, we're gonna dig into this huge thing, huge topic, bonus depreciation. So can you explain bonus depreciation like I'm five years old. Bonus depreciation allows businesses to write up a large portion of their assets. It allows businesses and investors, so say you purchase$150,000 equipment truck, you could immediately write that off. Or say you, an investor buys a new property and has a cost segregation study that breaks that into different panels such as flooring, fixtures, et cetera. You can write those portions of the assets a hundred percent off in the first year. So what's the difference in bonus depreciation and regular depreciation? Because we've always had depreciation. Bonus depreciation is 80% deduction upfront, so you write it off in the first year, whereas if you bought that equipment truck, et cetera. Under normal depreciation rules, you'd have to write that off over five or seven years. So bonus depreciation allows you a tax deduction upfront so it increases your cash flow, and it helps investors and businesses buy more assets and help simulate and grow the economy. So let's talk a little bit about real estate investors specifically. Okay.'cause this benefits really all business owners, right? And real estate investors, right? But a huge portion of it does benefit real estate investors. So why does bonus depreciation become such a major wealth building tool for real estate investors? Because they, as I said, they get the depreciation deduction upfront. So say you have a business. Real estate venture that cash flows, you can take the bonus depreciation and actually have a tax loss. That tax loss can offset your W twos and other income, and therefore your taxes are lower. So when you pay lower taxes, you have more money to invest in other business entities, more properties, more equipment, et cetera. this bill stimulates the economy. So how does that actually reduce my taxable income? Let's say you simple rate, let's say you're a real estate professional and you own A. Hang on, let's classify what a real estate professional is. Does that mean I have to have my real estate license? No. So what is a real estate professional? A real estate professional is somebody that spends more than 750 hours in real estate leasing, et cetera, managing your rentals, doing repairs on your rentals, et cetera. You have to document that, and it can't be more than 50% of your income. So say you have real estate income, et cetera, of a hundred thousand, but your W2 is 800,000. You cannot. Be a real estate professional'cause you have a, a big W2 to offset it. But if you were a, investor who doesn't have that big W2 and you do have rental properties that you spend, is it 750 hours a year? 750 hours a year? And it can be. Split by husband and wife. Oh. So if the wife does it and doesn't have a job, she can be the real estate professional. Or let's say she has 500 hours and the husband puts in 250 combined, they could be the real estate professional. So like if my husband does the repairs on the rentals and I do the research on the rentals, even though I have a real estate license, right. I'm classified as real estate professional. Yes, correct. But people who don't have a real estate license that were in the same boat as us investing prior to me getting to real estate. They would now qualify as a real estate investor for these ions would, and that, that what that does is that transforms your real estate deduction as active. Normally, a real estate transaction is called a passive property, and you can only offset passive income with passive losses. So explain what you mean by passive. Passive means it's a real, basically real estate. By itself is a passive property. Let's say you've got a condo that's generating cash flow income of$10,000 a year. Your and your depreciation on your condo is 25,000. You have a$15,000 passive loss. If you're not a real estate professional. This passive loss can only be used to offset passive income. So, in other words, I don't have enough income to take that loss. Correct. And, and this passive, you can deduct up to$25,000 of passive losses per year. If your income is under 150,000 individuals that have their adjusted gross income over 150,000, they cannot deduct any of that passive loss, that passive loss. Continues to carry over, and usually people can deduct it when they sell the property and have they have a gain, then they can deduct the passive loss there. But for many years, it's stuck on your tax return and not providing any tax benefit. So how can you create these losses on paper? Even when someone is making money in real life, these losses on paper are due to depreciation. For example, you bought a new. Condo and in the first year it's cash flowing, a hundred thousand dollars. Your real, your bonus depreciation may be 200,000, and so your net effect would be a hundred thousand dollars loss that you can deduct. Perfect. So I've seen this work in real life here recently as I've been helping some investors, and it's sort of crazy. One of the small areas that I've seen it work really well is when you have a W2 employee that is making, let's say a million plus 800,000 plus, something like that. they don't have a lot of deductions. right. They pay a lot in taxes. Yeah. But they don't have a lot of deductions. And so we were able to help'em buy a condo. And so let's say we buy a condo that's producing. let's say a$1.2 million condo producing 120,000 a year in rental income, right? So it's making money, but this person is paying so much in taxes. They were able to use the bonus depreciation and reduce their tax liability where that condo was actually losing them$4,000 net income a year. So the cost of. The mortgage and maintenance and everything on the condo, they were actually losing$4,000 a year on the condo. But once we applied that bonus, depreciation through their taxes. All of a sudden the amount of money they invested into the unit, the 20% that they put, 20 or 30%, I can't remember how much it was that they put into the unit. They actually got so much more than that back in the tax deduction of what they owed that year, that they were able to, make about 158% return on investment that year. How amazing is that? That is great A misconception and something we gotta do. The bonus depreciation is for equipment, et cetera. For purchases of real estate, you really need to get a what's called a cost segregation study. Yes. And what this cost segregation study does, let's say you buy the$800,000 condo and. What happens is you hire an engine. It is, there are firms that do call segregation studies. You hire one of these firms and they come out and look at things, and then they provide the CPAA report that says, of your eight,$800,000 condo purchase, 20% is fixtures and buildings, 15% is the flooring, et cetera. And those items you can write those. 80% of those off. Upfront for bonus depreciation. So how much should a cost segregation cost? what's the average on that? I know every firm's gonna be a little different in this market I'm seeing 3000 to 15,000. So it depends on, it's a huge range. Yes. But the three, the 3000, I've had several clients recently that bought or built, constructed their office buildings, and those were roughly 3000. if you're talking about a large. Building, multi-family building. Mm-hmm. Yeah. Et cetera. That's where they get into, it's how detailed the study is. So I had someone reach out to me and I told'em about this and they, they were client, they bought and then they were trying to get their cost segregation done. They reached out and said it was like 10 grand. I'm like, it's a condo. That should not be that. Right. Let's find you someone else. And luckily we were able to, right, and actually on the research when I researched this, it said five to 15,000. I'm just saying the Pensacola market is not seeing that. Yeah, we're a lot less here. Yeah. So what type of properties qualify for bonus depreciation? So we know about equipment for businesses, but then what type of properties? Because there is some difference between short term rental, long-term rental, right. Explain that. Okay. Your short term rentals are your Airbnbs, your VRBO's The things that the, the, the traditional gas is gonna say seven days or less. Those are considered active properties and those qualify. For the bonus depreciation. And they also, but they're considered income and, and loss from those will offset your W2 income. The other properties we talked about are longer term rentals, and such as your, you get a monthly lease and it's for 12 months. Mm-hmm. These properties are considered passive properties and, and as I stated above, passive losses can only be used to offset passive income. These are limited a lot more. I'm considered a real estate professional though if, if you're considered a real estate professional, you're active and you can treat those. So if I have a real estate license or if I don't have a real estate license, but I spend at least 750 hours a year working on my investment properties, whether that's doing repairs, researching for new properties. Then I can classify without a real estate license as a real estate professional, it becomes active income. I can take bonus depreciation and take active losses. Is that correct? Correct. The most important thing a individual can do is create logs because under audit, the IRS is gonna wanna see. Our logs. How many hours did you spend on this? How many hours did this, you mentioned, one spouse making over a million dollars. The other spouse could be the real estate professional, and as long as she spends the 750 hours, they can deduct those losses against his W2 income and partnership income, et cetera. And the key is don't lie, actually do the work. Right. And the real realness behind it's, you probably are, if you buy a, long-term investment. Unit, whether it's a single family or, or condo or townhouse, and you are gonna renovate it, you're gonna research paint, you're gonna research flooring, you're gonna, figure out everything, manage contractors to get it up, to stay to the status you want it. And then you're probably gonna interview different rental management companies and the engagement back and forth with them approving tenants. Then the maintenance that needs to be done, whether you're approving that, ordering it from another contractor. there's a lot of work that goes into it, but the key there is you've got to document what you're doing exactly. You need to document that. You also need to have mileage logs when you go, if you, part of the, you can deduct mileage. So if you go to the, hardware is short to look at paint chips, go to the contractor, et cetera, you're driving a lot and those are business miles. Oh yeah. Mileage. I totally forgot about that. The time in the car. Good, good tip there. So the, the rules that people get wrong, what are the most common misconceptions or mistakes people make on bonus depreciation? One of the biggest mistakes people make on depreciation period is they don't take account for land. You cannot depreciate land. In addition, at that condo that we talked about, that was 800,000, let's say 80,000 for the land, and then we split the remaining value of the property into. Long term assets, which are depreciated for 31 and a half years, if it's a personal rental versus the flooring, the components, the fixtures, those can be deducted, first year bonus depreciation. So you get a hundred percent deduction in the first year. And that is so important.'cause I think that is the biggest misconception peoples hear is they hear a hundred percent bonus depreciation and they think, oh, I spend$500,000 on this or$300,000 on this investment property and I get to take$300,000 the first year. That is not the case. No, that's not, and let me correct that'cause I misspoke a couple times. It's 80% in 2026, 80%. It was a hundred percent in 2025. And so 26, which is when this will actually air, it is gonna be 80%. What does it go to in 2027? It's still 80%. This is one of the things we want people to act now because we think these bonus depreciation phase outs are going to decrease over the years. So it may be 70% one year, and in five years they're supposed to sunset. So there may not be no bonus depreciation. So call me to buy investment property asap. That's the goal here. That's correct. You need to do careful planning and you need to act now. To take advantage of the bonus depreciation. And that's one thing I get a lot of people that come to me and they say, especially again, W2 employees, Hey, my CPA says I need to buy real estate. And I'm like, okay, what are we trying to achieve? I don't know. My CPA just says buy real estate. And I'm always like, let me talk to your CPA. Exactly. I need to know what the goal is here. are we looking to try and write off? I don't wanna sell'em a property more than they can write off. I need to know what the strategy is here and the goal. So if your CPA tells you, go buy property, say, okay, what am I trying to achieve so I can tell Jessica? Or you may need another CPA call Jan. Exactly. Misconception everybody has is they buy multiple real estate properties and then they can't afford the mortgage. Yeah. make sure that you can cash flow or come close to cash flowing the property. You don't want a property that is generating$25,000 of cash flow losses and then put another$20,000 of depreciation. So you've got 45,000 of losses, but it's a passive property, so you can't deduct any of that in the current year. So let me ask you this, With the exception of my income limits, Right. So I'm an active, whether it's short term or I'm a real estate investor, so I'm spending at least 750 hours a year. So I'm considered active. How many properties can I buy in one year? Except for the limits of my income, obviously I can't deduct more than I make. So is there a number of properties? It's just a bonus of appreciation and it's actually what, the one and a half million dollars. So up to one and a half million. So if I had enough income to write off one and a half million I could. So you're always going to be though capped at that income limit. Right. You can't deduct more than you make. Right. And the big biggest thing I tell investors, a lot of people say, well, real estate's going up, et cetera. I'm scared of the market. Make sure. You can cash flow it and make sure that the rental income and the rental wall says take. A lot of people don't take into account all the the expenses. Yes. They forget the condo association dues. They forget that the maintenance, the property manage. You know, if you own real estate you are gonna have to keep it up. Yes. And that, you know, I will say that we try and make sure all of our clients. rentals cash flow, with the exception of beach property. And that is something that is so different with waterfront property. Right. And the reason for it's waterfront property is a scarcity. They're not making any more dirt. No. And they're not making any more waterfront dirt. So it's something that continues to go up in value. We make sure our clients understand, Hey, look, while this may be helping you on your taxes this year, this house is a house or condo. You are losing 10 grand a year on it. Right. But your family's getting to enjoy it and all that. And when you go to sell it is when that equity comes out. That's when you're really making money on these waterfront condos Exactly. And waterfront homes. And that's very different than what we tell people when they're buying stuff in town, not waterfront. And so when I have an investor who owns a lot of a long-term rental in town, and they go to buy something on the beach. The first thing I have to do is, okay, let's have a strategy meeting. Let me make sure you understand'cause it's not gonna cash flow. 500 to a thousand dollars a month. It's not gonna happen. I've been doing this a long time and the rules changed in 2005. Before that, you could have have losses on these things. So these doctors, et cetera. With the million dollar income we're taking available to take 50 to 60,000 of losses a year. Mm-hmm. They came back and that's when the active versus passive properties and, rental property is already is considered passive unless you meet the real estate professional of 750 hours. Perfect. So ultimate there is talk to a good real estate professional. If you don't have one, call me. We'd love to help you have a good CPA, like you. If you don't have one, call Jan and make sure you understand the strategy behind why you're doing this and make sure how it's gonna affect your taxes, right? And if you still don't understand it and you wanna us on the same page, we will gladly talk and make sure we're achieving your goals. is there anything that TikTok really has wrong on this topic? TikTok likes to talk about things and make jokes of things. What do they have wrong on this? TikTok says you can write off a hundred percent of the property. And as we said, you need to state that you need to allow for land, and then you also need to split out the value of the property between true real estate components that will take 20, 31 a year, a half year to depreciate versus the fixtures, the appliances, the new flooring, carpets, et cetera. So I do wanna break that down just in case people still don't get that. So when we talk about a house, we have. Studs. The studs last for a while. Right, exactly. But that flooring and those cabinets, and that stove. that fridge that wears and tears. I mean, how often do we have to replace that? right. And in a rental even more often. So those appliances aren't gonna last for 31 and a half years. They're not. But those studs in the wall probably were right? Yes. Yes. So when we do that cost segregation, that's what they're breaking down at, down to every nail in that house. Every Exactly doorknob, every handle, every light fixture, every fan, the electrical, how long is each thing gonna last? Right? And it's important too for commercial rentals, because if you have a building that's a commercial property, Not an individual property. The depreciation is 39 years. Oh wow. So commercial. It's actually 39, so 31 and a half. So it's very important to, to get the cost segregation studies now to break down the cost of those furniture, fixtures, appliances, et cetera. Are there any other big surprises that we haven't talked about that people could run into with this? No. Just document, document, document. You need to have your log for your 750 hours. You need to make sure you document your mileage. Allocate for a portion for my end and make sure a lot of times people don't get all their expenses in there. I can't tell you how many times a client comes in and says, this is my real estate, and I'll go back and look and I'm like, I don't see where you paid insurance this year. Oh, I bet. make sure you have everything on there. So when we talk about this bonus depreciation, is this only for large investors? What if I've never bought an investment property? Could this strategy work for me? Yes, exactly. Now, the investment property, remember you want, there's two types of investment properties. There's an investment property that you are the real estate professional, and so you can write off those. Upfront versus an investment property that you do not have the 750 hours. Those we need to keep in mind that you can only deduct$25,000 of expenses of losses per year and those phase out at 150,000 income limit. So if you had someone who wanted to buy their first investment property this year, what advice would you give them? What's your long-term goal? Is it to be an Airbnb, et cetera, that provides benefits?'cause you can make some more money, but it also has more wear and tear on the property versus if do you want it to, to rent it to a single tenant, monthly rental, et cetera. I love that you answered my question with a question. Do you know how many? That's what I do with my customers and it drives'em crazy. Yeah. They ask me a question, I have to ask three questions first, and the reason why is before I answer that question, I kind of know what you're talking about, right? I gotta know what your goal is and how can I answer that question accurately if I don't know which direction you're going. So I love that you actually ask questions instead of giving me a direct answer.'cause you're right, you don't know what you're doing. I have so many clients that come to me after the end of the year and are complaining about. Being a, short term rental that, the maintenance, the housekeeping, the towels, all of that. And, and I've said, well, what about thinking of making this a long-term property? Mm-hmm. And several of them do because having a short-term property. If you don't have a good property manager, which you pay for the property manager, 20%. And, gets to be a burden. So some of my clients have actually transferred into long-term. Mm-hmm. And that's passive. But it's like they didn't want, they, they wanted the long-term investment and they wanted the, the value of real estate to increase, but they don't want the day-to-day Yeah. Necessities of being. So that, that poses a question for me. Let's say I buy a short term rental now. Mm-hmm. And I do the 80%, um, bonus depreciation on those. Things that are gonna wear and tear through the cost segregation. And three years from now, I say, This is just not the work I wanna put into this. Can I switch it to a a long-term rental? And does that have a tax implication for it? You really need to keep it at least five years. Okay? If you don't, there's a recapture. Percentage and that that recapture can be up to 25%. Okay. So if I change my mind there, there could be some tax obligation there. Exactly. So, in 20 20, 20 21, 20 22, short term rental went through the roof.'cause no one had to work. No one had to go to school. Right. And we were free in Florida, so everyone came to Florida. Right, exactly. And so short-term rental here became massive. All of a sudden, these regular neighborhoods that you never saw short-term rental in, we've always had good short-term rental near the beaches. Right. The tourism area. And the way our towns are really set up here is. The tourism's out there, it's out on the island. Right? Right. It's not in our day-to-day life in the city, which makes it great for traffic. we get their tax dollars, but they don't interfere with our daily lives. But we saw all these residential neighborhoods just popping up with Airbnbs and I kept telling my customers, they call me, Hey, I need to buy a short-term rental, need to buy a short-term rental. The advice I gave them. We have to be able to switch to long term immediately, and it makes sense. So we have to run it both ways because this short term rental is a temporary fix. This is going to go away. No one has to go to work or school right now. Their inflated numbers you're buying a property on it may not do that next year. My other fear with it was, you know, it's a new thing really in the history of. Of owning property. it's fairly new. And so there's not a lot of regulation around it. And now what we've seen is regulation starting to come. they're trying through zoning and things like that. We've seen as close as Fort Walton, one of the cases go all the way to the Florida Supreme Court. And luckily, I was smart enough to recommend to all my investors make sure we can switch this to short term or long-term rental. Right. The short term to long term at any given time. Because when everyone else puts their. Airbnbs on the market. You don't wanna be on the market at the same time. And that's exactly what we saw there. I could go on right now and find tons, tons and exactly neighborhoods like in my neighborhood. I don't want a short-term rental right next to me because the short-term rentals are for bachelorette parties, et cetera. And who wants to have people next to you when you're trying to go to work? But if you don't have an H hoa, that's property. Right? So we could really get into that.'cause I love our property owners having rights, but in a H hoa, they have a way to regulate that and things like that. And that's really what the state Supreme Court looked at and decided whether or not a property owner has the right to do with what they want. Right. I had one across the street from my house and my husband hated it. I remember one day he walked out and was having his coffee in the morning and looking at the 20 cars parked up and down the road on everyone's grass. And he's like, I don't like this. You know, like the grumpy old man. Right, And I'm like, honey, it's their property. Right. We gotta support their property rights. And even though it's in our front yard, you know, we always have to look back. It's not just about what's affecting us today, it's in the greater scheme of things. Right. Do we want people telling us what to do on our property? Right. And he's like, you're right. And also I'm telling my clients when they look at investment property, look at it for the long range thing. It may be a house in a neighborhood that's got a great game room, great. You know, et cetera, which it leads it to a short-term rental house. But if you have to convert it to a long-term, rentals is the pro is, is an individual gonna wanna pay that much for a big game room, you know, the rent increase. Exactly. Is it gonna make sense for a long-term rental? And that's definitely what we make sure of. So let's talk about practical planning steps. So before someone, goes out and actually buys a property, what do they need you to do to make sure they're set up correctly? First of all, they need to consult their bank and find out what the mortgage rates are going. They need to say, do the budget. Can they, if it requires cash flow out, because it's hard when you first buy a property, it's not gonna cash flow immediately. It's gonna take you a couple of months to build it up, et cetera, and can they afford that? The incidental repairs, et cetera. You need to make sure it makes sense in your budget. And what should they be asking or telling their CPA throughout the year versus waiting until the end of the year? They should tell their CPA what they're planning to do. You should sit down with your CPA when you do your taxes. And I like my clients. a lot of my clients just drop off their taxes or email'em to me. I like them and say, what are your goals for next year? What are you gonna be doing? you mean they don't like to do like me and just call, Hey, I just found a property I wanna buy. What should I do and how should I set it up Right last minute. And the worst thing they can do is, let's say they buy a property and it's one of these. Passive properties and they over the income limit. So they thought they were gonna great, get these great business deductions and they cannot deduct any of it, right? So definitely talk to your ccp, give them a call, say, Hey, this is what I'm gonna do. Should I, shouldn't I, what do I need to think about? Correct. so what we talked about tracking their time. If they're gonna identify as a real estate professional, what else should they be tracking to maximize their deductions? All your deductions. get a credit card or something and you put all your rental expenses on that. Don't put'em, don't I, I like my clients to have two separate credit cards. This is for household expenses, et cetera, and this one's for the rental. So then when they're going through and the end of the year calculating their numbers for me, they know that all of these expenses are on this one card relates to the. Real estate and don't forget that mileage. we deduct a a small portion of your tax prep if you talk to have to talk to an attorney. Those are deductible. assessments and everything. a lot of times client, if a condo does a big assessment, so many times I've got my taxes done for a client. And I say, you owe this much. And they're like, oh, let me go back and look. And the then, then they paid a$20,000 assessment, which is a current deduction. Yes. Don't forget that. That's a huge one. So what is the biggest advantage of bonus depreciation that most people are gonna overlook? The bonus depreciation. You can, as I said, the write off of the cost segregation study, writing off the portion of the cabinets, the appliances, the flooring, et cetera, and you get an 80% deduction upfront. So taking that 80% of those diminishing items this year. Correct. What is the biggest risk with doing this? The biggest risk is documentation. Because if you're not one of these real estate professionals, or if you don't document correctly the and let's say you have a investment property on the beach and you're gonna use it for you, you're allowed to use it for 14 days. Mm-hmm. You're also allowed to do is when you're in there, let's say you decide to paint it, those are not considered your rental days, personal days, those are considered repair days. You need to document your calendar. So then, yeah, I went out there and did these repairs. I didn't just go on a family vacation. Right, right. And so last question, just to wrap this up. What is, one piece of advice that you would give someone who's really trying to build wealth through real estate? What's your best advice for them? See Jessica for great properties and talk to your CPA because you can build good wealth for the future, but you gotta do it carefully and planning and make sure you're not overextending yourself, I think that's great advice and it really does take a team, of all of us working together and making sure we are helping them achieve their goals from the lender. To the insurance agent, to the CPA. To me as the real estate agent, we really work together to help people achieve those goals. Yes, and I love when people are upfront and honest with me of what's going on and what they're trying to achieve.'cause I can help'em so much better. Correct. Sometimes people are a little hesitant to tell me their goals right away, and once they finally break down and do I can, I can help'em so much more. Thank you so much, Jan, for being on the show. It is always a pleasure to talk with you about the stuff I love to geek out about taxes of all things. Thank you so much for being on the show and we hope to have you on the show Again. I would love to talk about something, love to have you on the show and let. Talk about using a self-funded IRA for real estate. That sounds great. Can we do that in the future? Yes, I would love that. Awesome. Thank you for having me. And if anybody has additional questions, please just email or contact Jessica and she will get them to me. Yeah, and your, all your info will be in the show notes so people can reach out to you if, if you need a good. CPAI strongly recommend her. like I said on the last episode before I hired her, I interviewed about eight or nine people, very direct questions, and she impressed me so much. I knew her actually before then, and I didn't want her to do my taxes because I knew her. And you know, that's like standing in front of someone naked, yeah. So I was like, ah, and then I interviewed eight or nine people and I was. So blown away with by your answers. I was like, she has to be my CPA. So thank you so much again for being on the show. I've enjoyed it. We hope you love the episode today. If you have, make sure you like, follow or subscribe no matter where you're listening to so you never miss an episode. If you have a question or a show topic, please make sure you DM me. Email me, Facebook me, however, just get it to me. I might just ask you to be on the show. Thank you so much for listening. Remember, this is Jessica Duncan and it's just my opinion for adulting made simple.