Tax Planning for Real Estate Investors with Michael Law, CPA

Real Life Planning Podcast

In Episode 46 of the Real Life Planning Podcast, Cynthia Meyer, CFA®, CFP®, ChFC®, interviews Michael Law, CPA, specialist in tax compliance and consulting with small business, real estate, and stock compensation. Michael Law has Masters in Taxation and 25 years experience, and prioritizes researching and finding solutions for clients. Michael shares the tax strategies every real estate investor needs to know, including understanding real estate professional status, avoiding common tax mistakes, and planning ahead for 1031 exchanges. This podcast is for educational purposes only - please consult your tax advisor.

" Tax is just reporting what happened or how it happened." – Michael Law

This week on Real Life Planning Podcast:

💡What are the most common tax mistakes real estate investors make? [00:03:59]

💡What is real estate professional status, and how do investors qualify to meet the IRS requirements? [00:07:58]

💡Why is it important to plan ahead for a 1031 exchange? [00:11:48]

💡How can taxpayers overcome fear or avoidance of tax filing and stay organized throughout the year? [00:23:14]

💡How do marginal and effective tax rates differ, and why do many people misunderstand how tax brackets work? [00:24:49]

💡What role does recordkeeping play in successful tax planning for real estate investors? [00:26:07]

💡How do property transfers and estate planning impact taxes? [00:28:13]

Connect with Michael Law, CPA:

• LinkedIn: https://www.linkedin.com/company/cs-and-company/
• Facebook: https://www.facebook.com/profile.php?id=100068725286954
• Website: https://www.csandcompany.com/
• Email: [email protected]

About the Real Life Planning Podcast

Hosts Cynthia Meyer and Vekevia Tillman-Jones explore practical steps for real estate investors to build financial freedom and make working for someone else optional.

The ReaL Life Planning Podcast is for educational purposes only. None of the information discussed is intended as investment, tax, accounting, or legal advice, nor as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, real property, or other securities or non-securities offering.

Real Life Planning, LLC is an Investment Advisor registered with the States of New Jersey, New York, Texas, Virginia, and California. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy, or completeness of, any description of securities, markets or developments mentioned. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, REALLIFEPLANNING.COM.