The Multifamily Real Estate Experiment Podcast
“Multifamily Real Estate Investing for the Career Professional.” Join Shelon "Hutch The Marine Investor" Hutchinson who talks to military veterans and real estate professionals about the results of their journey and multifamily real estate experiments. Each week, Hutch discusses Multifamily Real Estate Investing for Career Professionals and military veterans to help you build wealth and financial independence. Questions about Multifamily real estate investing are systematically dissected as your host works through observations and data to answer the week's question.
The Multifamily Real Estate Experiment Podcast
MFREE 118 Trailer # 3 with Gian Pazzia: Are You Paying More Taxes Than You Should?
Gian Pazzia breaks down the most common mistakes investors miss when they trust the wrong team. From skipped cost segregation to missed bonus depreciation and 1031 missteps, it all adds up.
The IRS isn’t always the problem. Sometimes it’s the people you hired to protect your bottom line.
This one is simple, but important.
#TaxMistakes #RealEstateCPA #PassiveInvestorTips
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Email me at:
hutch@hsquaredcapital.com
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The biggest mistake is using a tax preparer that just isn't as familiar with real estate. Okay. And, a lot of the mistakes, are happening. With the person preparing the tax return. Whether it's the tax prepared, never advised, Hey, you could do a cost segregation study here. and of course they don't do the cost study. They might be paying more tax than they should. Okay. But the other mistakes that I think I find are. Missing the bonus depreciation, whether, somebody's reporting things on the tax return, that is eligible for bonus depreciation. So maybe let's say they, put a new parking lot in, or maybe they redo the landscaping and they put it on the depreciation schedule correctly, but they forget to take the bonus depreciation. And so they're Effectively writing it off over a much longer period, and they're paying more tax than they need to when they report that. Sometimes there's mistakes when 10 31 exchanges are involved with properties, the rules get a little nuanced. Again, if your tax preparer is not super focused on real estate, they might overlook some of the issues.