Real Estate Tax Tips: Avoid These Costly Mistakes

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Most new real estate investors lose thousands of dollars simply because they don’t understand taxes. In this video, I sit down with CPA Matt Bontrager (my personal accountant) to break down the biggest tax mistakes beginners make, and how to avoid them.

We cover everything from setting up bank accounts and credit cards, to LLC myths, bookkeeping systems, and the right way to track expenses. Then we dive into the powerful tax strategies that can actually save you tens (or even hundreds) of thousands of dollars, like depreciation and cost segregation.

If you own an Airbnb or rental property, or are about to buy your first one, this video is the ultimate beginner-friendly guide to real estate taxes.

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Chapters:
00:00 - 01:09 Intro
01:09 - 02:14 The Blueprint for This Podcast
02:14 - 04:25 Step 1 | The FIRST THING investors need to do from a Tax Standpoint?
04:25 - 06:02 WTF is Co-Mingling?
06:02 - 07:32 STR Banking Made Easy (Baselane)
07:32 - 11:40 Step 2 | A Separate Credit Card
11:40 - 14:47 Why not an LLC First?
14:47 - 17:13 Can you Move Expenses after the fact?
17:13 - 19:13 When you DO NEED an LLC
19:13 - 21:28 Step 3 | Track Expenses
21:28 - 28:07 Spreadsheet Example
28:07 - 30:39 Tax Strategy for Rentals
30:39 - 32:39 Cost Segregation Spreadsheet Example
32:39 - 35:22 Why Don’t People get a Cost Segregation Study?
35:22 - 35:58 Free Tax Course

Disclaimer:
The information in this video is for educational and entertainment purposes only and does not constitute financial, legal, or professional advice. Always consult a qualified professional for advice tailored to your specific situation.

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