Among the many benefits of being a real estate investor, the tax implications are incredible. If you’re just getting started, or simply want to make sure you have all your bases covered, we’re sharing three resources you can use to better understand real estate taxes, and maximize your benefits!
Tax-Free Wealth by Tom Wheelwright. This book is the tax bible, the Holy Grail, the… you get it. Tax-Free Wealth is all about using the current tax laws to your benefit. As a real estate investor, you need to know how the tax laws work, and how they are designed to benefit you. Tom Wheelwright is one of the most knowledgeable tax accountants around, and this book totally transformed my business. If you’re trying to create wealth and minimize your taxes, you need to read this book!
10 Tax Deductions for Real Estate Investors. This blog post contains ten tax deductions you can take advantage of if you’re purchasing rental real estate. Take a look over this list and make sure you and your accountant haven’t skimmed over any important savings!
How to Maximize Depreciation – Interview with Tom Wheelwright. On episode 22 of Investing in Real Estate, Natali and I sat down with tax genius and Rich Dad advisor Tom Wheelwright. Wheelwright shared how real estate investing can mitigate other tax burdens, how you can make sure you’re getting the most benefits out of your investments, and the importance of depreciation!