BiggerPockets Real Estate Podcast - Don’t File YET! One Big Tax Deduction You Could Be Missing Out On

With so many real estate tax write-offs, it’s no wonder that CPA Brandon Hall says rental real estate is one of the most tax-advantaged assets on the planet. But, even with so much free-flowing information on how to pay less to Uncle Sam, most real estate investors are missing out on a MASSIVE tax deduction that could be saving them thousands, if not tens of thousands, on their tax bill. What’s the write-off that even our host, Dave Meyer, didn’t know about? Stick around, or walk away from a HUGE tax savings. Brandon Hall is a real estate investor-focused CPA. He knows the deductions, write-offs, and audit red flags that could be helping or hurting you. Today, he’s walking through whether or not you need a tax professional (a LOT of people DON’T), why you need to start tax planning BEFORE you buy your first property, the biggest real estate tax write-off that most people miss, and why you should WAIT to file your taxes to see if a MASSIVE real estate tax benefit is making a much-awaited comeback. Need a tax professional to help you make the right tax moves? Find one for FREE with BiggerPockets Tax Finder: https://www.biggerpockets.com/business/finder/tax-and-financial-services?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Expand Your Investing Knowledge With the BiggerPockets Books: https://store.biggerpockets.com/?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders ~~~~ Hear Dave on The “On the Market” Podcast: https://link.chtbl.com/OTM ~~~~ Watch Dave on the “On The Market” YouTube Channel: https://www.youtube.com/channel/UCxDXuLvtjJ9Est8PrG3i2VA ~~~~ 100% Bonus Depreciation Coming Back? (Do NOT File…Yet) w/Brandon Hall: https://www.biggerpockets.com/blog/on-the-market-187?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of w/Brandon Hall: https://www.biggerpockets.com/blog/on-the-market-96?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Brandon: BiggerPockets: https://www.biggerpockets.com/users/bhall005?utm_source=youtube&utm_medium=description&utm_campaign=none LinkedIn: https://www.linkedin.com/in/brandonhallcpa/ Website: www.therealestatecpa.com X/Twitter: @bhallcpa or https://twitter.com/bhallcpa ~~~~ Connect with Dave: BiggerPockets: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none Instagram: @thedatadeli or https://www.instagram.com/thedatadeli/ Show notes at: https://link.chtbl.com/BPRE 00:00 Intro 02:01 Should You DIY Your Taxes? 08:49 When to Outsource Your Taxes 11:25 The #1 Tax-Advantaged Asset 15:26 Best Hidden Tax Write-Off? 22:46 Bonus Depreciation Coming Back? 27:53 DON'T Make This Mistake 35:13 Find a Tax Pro Today!