2021 Tax Tips for Real Estate Investors

We all know that just buying four walls and a roof is not going to make you successful. The strategies that you implement will make you successful. A lot of real estate investors don’t think about that until the tax day creeps up on them, and then it’s too late to start thinking what strategies they should have implemented 6, 9, or 12 months prior.

As we know, 90% of all wealth is attributed to people who own and control real estate, and who are very successful at it with different strategies of tax savings, tax implications, tax depreciation, and tax benefits. Today, we have a special guest Ana Klein, a CPA who works specifically with real estate investors, and who shares with us the basics that real estate investors need to know about tax savings.

What Is Covered:

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4:44 - Why, as an investor, you should always hire a tax professional with experience in real estate.

9:16 - The secret of how the wealthiest people in the US end up paying less in taxes.

10:23 - Whether there have been some changes with COVID for real estate investors tax wise.

14:44 - What the 20% qualified business income deduction is.

16:26 - The implications of investing in certain areas of the US from the tax perspective.

18:23 - How to earn the professional real estate investor status.

23:38 - Number #1 tax saving strategy for 2021 - keep good records.

28:00 - Why you need to have tax planning conversations with your accountant more than once a year.

Show Resources:

• AKK Tax & Accounting
• Connect with Ana Klein
• Connect with Steve Rozenberg

Meet Ana Klein:

Ana Klein is the CEO and owner of AKK Tax and Accounting. With over 10 years of accounting experience she spearheads the organization. Ana has been featured on various podcasts regarding her expertise in the specialty of real estate investing and small business sectors of accounting.