As a lifelong Chicagoan, entrepreneur, and real estate broker, I love everything about this city...but the one thing that makes Chicago so great is the amazing people. On this weekly podcast, We want to pull back the curtain and introduce you to some of the sharpest minds in business, education, and politics so that you can learn how to scale your business faster and more efficiently and achieve greater success in your professional and personal life! You are going to learn from some of the highest-paid experts, entrepreneurs, and business leaders about their specific tactics, strategies, and insider tips on leadership, leverage, technology, hiring, and building an amazing culture so that you can create the success and the change you’ve been looking for. I’m Young Lee…. Welcome to the Success Game. Also, be sure to subscribe, if you haven't already, so every podcast gets sent straight to you and you don't have to go searching for it! See you next week on the Success Game!
https://younglee.captivate.fm
episode 27: Essential Tax Strategies for Real Estate with Advanced Tax Advisor Jose A. Ramirez
What are some smart tax-saving strategies you can apply as you break into the real estate game?
Jose A. Ramirez from Advanced Tax Advisors is chatting with Young Lee in a highly informative episode of Chicago Business Review that is guaranteed to save you (and your family) money in taxes if you take his advice.
Jose is an expert in the field of implementing tax-saving strategies for business owners, landlords, and real estate investors. He's helping real estate investors save millions of dollars in tax savings.
From an overview of the advantages of real estate investment and why real estate is so powerful for creating generational wealth (understanding 'basis'), to insight into what determines real estate professional status (in the eyes of the IRS), Jose's astute advice is pure gold.
Learn about setting up an entity, passive versus non-passive business, depreciation benefits, tax benefits, and more – all explained in an easy-to-grasp manner that will motivate you to invest in real estate. Your education begins here. Please join us.
"The journey has been a long, learning journey. Because taxation is not easy; taxation is hard. But once you understand the code and you understand how to implement these strategies, the benefits are tremendous." ~ Jose A. Ramirez
In This Episode:
- Jose's taxation journey (and why real estate is such a smart investment)
- The importance of separating your assets from your active business
- What is Capital Gains Income?
- What qualifies you for real estate professional status (according to the IRS)?
- Understanding the '500 Hour Rule' tests and how a first-time investor can accumulate hours
- How to get your family involved in your real estate business (and pay less tax)
- Is it worth setting up a trust that owns your properties?
And so much more!
Connect with Jose A. Ramirez:
- Website - https://advancedtaxadvisors.net/
- Jose’s webinar - https://advancedtaxadvisors.net/webinar/
Connect with Young Lee:
- Facebook - Young Lee | Facebook
- LinkedIn - Young Lee - Host of the Chicago Business Review Podcast/Show