Maximize Your Real Estate Tax Benefits: Avoiding Costly Depreciation Mistakes

Описание: Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack dives into the third of seven costly tax mistakes that many real estate investors and business owners make: ignoring depreciation.

Chris, a CPA and certified tax planner, explains how leveraging depreciation can significantly reduce your tax burden and enhance your investment returns. He shares real-life examples, including a case where a couple missed out on a $160,000 tax benefit due to improper depreciation practices.

If you're a real estate investor or a business owner looking to optimize your tax strategy, this episode is packed with valuable insights and actionable steps. Don't forget to subscribe and leave a review to help others discover the podcast!

Stay tuned for more episodes as we continue to explore the most costly tax mistakes and how to avoid them. God bless you, and keep moving forward!

00:00:14 - Introduction and Podcast Overview
00:01:08 - About the Host and Better Books
00:02:22 - Purpose of the Podcast
00:03:05 - Costly Tax Mistake #3: Ignoring Depreciation
00:05:03 - Definition and Importance of Depreciation
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

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