BiggerPockets Real Estate Podcast
Business:Investing
What’s the key to paying fewer taxes? A cost segregation study. Never heard of it? Most real estate investors haven’t, but we’re about to unlock a world of tax-free income earning using this specific tool. If you’ve wondered how the wealthy pay such few taxes while owning million-dollar-producing real estate, this is how. In today’s episode, you’ll learn how to use cost segregation, too, so you can keep more money in your pocket.
Taxes aren’t everyone’s favorite subject, but paying fewer taxes? You can probably get behind that. We’ve brought on CPA and CFP Mitchell Baldridge to explain how he helps real estate investors, large and small, delete their taxable income and build their real estate portfolios faster. Our own Rob Abasolo uses Mitchell’s team to cut his taxes down by more than six figures!
In this episode, we’ll explain what cost segregation is, why so many top real estate investors use it to lower their taxes, when you can (and can’t) use it on your properties, the short-term rental tax “loophole” to take advantage of, AND what happens when you do it wrong.
In This Episode We Cover:
How to wipe out your income taxes using cost segregation studies
Bonus depreciation and writing off your property faster than before
Using real estate losses to lower your W2 or business income
The short-term rental “loophole” ANYONE can use to reduce their taxable income
Carrying over losses and why top real estate investors will NEVER stop buying property
Caveats and pitfalls of cost segregation and when it can come back to bite you
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Davids's BiggerPockets Profile
David's Instagram
Rob's BiggerPockets Profile
Rob's Instagram
Rob's TikTok
Rob's Twitter
Rob's YouTube
Landlord Tax Loopholes That’ll Help You Pay ZERO Taxes
Can a Cost Segregation Study Help You Lower Your Taxes?
Connect with Mitchell:
Baldridge Financial
Better Bookkeeping
RE Cost Seg
STR Cost Seg
Mitchell's Twitter/X
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-823
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
809: How 1 Rental Property Saved Corey Kent’s Financial Future
808: This “CARFAX for Properties” Could Change EVERYTHING About Investing w/Sheila Fejeran and Teresa Grobecker
807: How to Build a Deal Flow “Funnel” to Get UNLIMITED Deals Sent To You w/James Dainard and Sam Primm
How to Find Financial Freedom with Small Multifamily Rentals
806: How Two Soccer Moms Went from Small Multifamily to $11M Real Estate Deals w/Breanne Weber and Denise Mayen
805: 2 “Cash Flow” Housing Markets That Are On Track for Big Growth w/Brandon Ribeiro and Peter Stewart
804: What to Do TODAY to Instantly Find More Real Estate Deals
803: Building a $1.8M Real Estate Portfolio by Outsourcing Your “Weaknesses” w/Andy Gil
802: Codie Sanchez: Passive Income is a Scam, Do This Instead
801: The Secret to Building a Rental Portfolio With Limited Time, Money, or Experience
800: Million-Dollar Advice from Millionaire Investors Codie Sanchez, Alex and Leila Hormozi, and More!
799: 3 Steps to Building a Simple, Safe, "No Bank" Rental Property Portfolio w/Cody Davis and Christian Osgood
798: Leila and Alex Hormozi’s Unbelievably Simple Investing Advice
797: 7 Rentals in 3 Years by Breaking All the Real Estate Rules w/Jenni Vega
796: 2024 Housing Market Predictions and 3 Underrated Real Estate Markets to Watch
795: Making $10K/Month with a “Small and Mighty” Rental Portfolio w/Chad “Coach” Carson
BEFORE You Buy: How to Know Your Market (and Property) Will Make it In 2023 w/Dave Meyer
794: Buying Houses with $100 Down and Creative Finance Secrets Most Don't Know
793: How to Analyze a Rental Property as a COMPLETE Beginner
792.5: How to Wholesale Real Estate (FREE Audiobook Chapter)
Create your
podcast in
minutes
It is Free
TED Talks Daily
Radiolab
StarTalk Radio
The Inforium
Entrepreneurial Thought Leaders