As much as we all HATE doing our taxes it is a MUST that you understand them as a real estate investor.
Many people use the thought process of, “my accountant will handle it” HA!
That’s how you find yourself owing tens of thousands!!
In this interview of Tips From The Pros, we talk to Brian Lang CEO of UpsideCFO.
0:00 ✅ 2021 Real Estate Tax Strategies With Biden Tax Plan
2:11 ✅What is Upside CFO
3:30 ✅ What is it that you do for Real Estate Investors at Upside CFO?
6:15 ✅ The value of having an expert do your books/taxes
9:00 ✅ When should a Real Estate Investor hire a bookkeeper?
11:11 ✅ Big mistakes real estate investors when doing their own books/taxes?
15:25 ✅ Best ways of running your own books
18:38 ✅ Why YOU must know how tax planning works
22:20 ✅ Cost of hiring a bookkeeper
24:46 ✅ The "Investor-Friendly" CPA
28:44 ✅ When should Wholesalers consider getting their LLC?
34:08 ✅ Buy a NEW car to Not pay taxes
38:28 ✅ Affects of the New Biden tax plan on real estate investors
43:18 ✅ Biden Tax Plan will hurt C-corp's
44:40 ✅ Tax The Rich....Does this really make sense???
49:43 ✅ Social Security exemption going away
53:00 ✅ Spend $2T-$4T NOW to make maybe, $2T over ten years!
54:14 ✅ 1031 Exemption going away!
1:03:37 ✅ BIG Tax Ding regarding Estate Tax & Stepped Up Basis!
1:07:44 ✅ NOBODY likes paying taxes
1:09:00 ✅ How to prepare YOURSELF for the Biden Tax Plan
1:12:53 ✅ Resources to better understand and stay up to date?
1:15:56 ✅ Recommendations for educational material (see below)
1:19:14 ✅ Your Personal Finances is also very important
1:23:33 ✅ Closing Thoughts and Review from Jon Barbera.
Contact Brian Lang
http://austinexecutivetax.com/ (Schedule a FREE call)
Brian Langs' Suggestions for Education
1. Traction by Gino Wickman
2. Scaling Up by Verne Harnish
3. Krisstina Wise, Life Coach
WealthyWealthy - https://wealthywellthy.life/
Sovereignty Academyhttps - //sovereigntyacademy.com/