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HI 71 – How to Use The Tax Advantages Real Estate Provides with CPA Diane Kennedy

Episode: 71

Guest: Diane Kennedy

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Gary Pinkerton kicks off the show today with a reminder for real estate investors to keep the tax advantages of real estate in mind when things break or issues arise with your real estate properties. That’s why he’s bringing Jason’s interview with Diane Kennedy, who knows the tax code inside and out.

In his interview, Jason Hartman talks with renowned CPA Diane Kennedy, who is full of ideas and advice on topics ranging from international investing and its tax benefits, the ins and outs of LLCs and what your self-managing options are for your real estate investments, to name just a few issues covered.

Key Takeaways:

Gary Intro:

[3:02] Sometimes it seems like something always seems to go wrong and ding your cash flow, but you have to remember the big picture

[5:57] Set yourself up to write the story you want to have

Diane Kennedy Interview:

[7:55] When you get involved in the issues that Diane Kennedy does, you know all about taxes and the IRS

[9:00] On a more international note, Puerto Rico is a destination that seems to offer everything to some people, and nothing to others.

[10:23] An LLC is a great and conventional way of protecting your assets. Trust it.

[17:14] It’s not to say that using entities are never good. If using them, know which jurisdiction is best.

[22:57] The Tax Extender Bill was written for those dealing with short sales or foreclosures.

[26:50] Everyone complains about the US and its laws and regulations, but we should look at ourselves compared to other countries and consider what we have.

[28:33] Diane Kennedy gives her views about real estate, the Holy Grail of tax benefits.

[30:26] You can’t just get away with calling yourself a real estate professional. There are certain hoops to jump through.

[35:03] For more information, head to www.USTaxAid.com

Website:

The Off-Shore Tax Guide by Diane Kennedy