368: Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies w/Natalie Kolodij

Want to pay less money to the IRS in 2024? We’ve got the real estate tax strategies to help you do just that. And get this—you don’t need a large real estate portfolio to benefit from these money-saving tax tips!

Welcome back to the Real Estate Rookie podcast! Today, real estate tax strategist Natalie Kolodij lends her expertise on the many tax benefits of real estate investing. Natalie is not only a certified public accountant (CPA) but also a fellow investor, and in this episode, she shares the unique real estate investing strategy she used to get started—flipping mobile homes! She also dives into the different types of partnerships and their tax advantages, as well as common house hacking misconceptions that cause new investors to miss out on important deductions.

Need to sell a property? You’ll want to know about the exclusion that allows you to avoid capital gains tax. Natalie even gets into the short-term rental “loophole” that investors can use to reduce their taxable income each year. Of course, you don’t need to master the tax code before buying your first property—you just need to find a tax professional who specializes in real estate. So, Natalie offers three questions you MUST ask before hiring one!

In This Episode We Cover:

Must-know 2024 tax strategies for the small rookie investor

Crucial real estate questions to ask a tax professional before hiring them

How to plan and file taxes for different types of partnerships

Common house hacking misconceptions that cost investors thousands of dollars

The short-term rental “loophole” that allows you to reduce your taxable income

How to dodge capital gains tax when selling your investment property

The most common tax mistakes that new investors make (and how to avoid them!)

And So Much More!

Links from the Show

Find an Agent

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Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Submit Your Real Estate Rookie Question!

Apply to Be a Guest on the “Real Estate Rookie” Podcast

Hear Natalie on the “BiggerPockets Money” Podcast

What You Need to Do NOW to Pay Fewer Taxes in 2024

How to (Legally) Avoid Taxes by Investing in Real Estate

Seeing Greene: CPAs Answer YOUR Top Investing and Tax Questions

The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of

Connect with Natalie:

Natalie's BiggerPockets Profile

Natalie's Facebook

Natalie's LinkedIn

Natalie's Instagram

Natalie's Website

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-368

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