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
697: BiggerNews December: 3 Coast-to-Coast Markets We’d Invest in Next Year
696: How to Plan for (and CRUSH) Your 2023 Goals
695: Billionaire Advice that Made a Farm Boy a Fortune in Self-Storage w/Andrew J. Abernathey
694: How to Reach Financial Freedom in 2023 with Small Multifamily Properties
693: Seeing Greene: How to Turn Equity into Cash Flow and Getting Around 20% Down
692: Fighting Cancer, Financial Freedom, and 20 Units in 2 Years/Josh Goldstein
691: Painless Property Management 101 w/Ryan Barone from RentRedi
690: Seeing Greene: Why Are My Rental Property Returns Looking So Bleak?
689: Landlord Tax Loopholes That’ll Help You Pay ZERO Taxes in 2022 w/Matt Bontrager
688: Scott Galloway (Prof G) on Why Smart Investors Stay Away from “Sexy”
687: Seeing Greene: Using the “Capital Carrot” to Find Money for Your Next Deal
686: Seven-Figure Flips and Opportunity Zone Investing w/Former NBA Player Evan Turner
685: How to Easily Find Off-Market Properties (No Experience Required!) w/Justin Silverio
684: Seeing Greene: The “Energy of Money” and Why You’re Looking at Debt All Wrong
683: Why Expert Negotiators Love to Hear “No” w/Never Split the Difference’s Chris Voss
BiggerPockets Bonus: Q&As, Deal Reviews, and Cameos from Your Favorite Hosts
682: BiggerNews November: Was The “Office Apocalypse” All Hype? w/Kevin Fagan
681: Real Estate Horror Stories: Navigating Six-Figure Losses, Stabbings, and Sewer Problems
680: Why Hosts Are Backing Away from Travel Sites and Building Direct Bookings w/Mark Simpson
679: Medium-Term Rentals: How to Get BIG Cash Flow Out of Small Properties w/Sarah Weaver and Zeona McIntyre
Create your
podcast in
minutes
It is Free
TED Talks Daily
Radiolab
StarTalk Radio
The Inforium
Entrepreneurial Thought Leaders