Non-investors hate real estate tax loopholes. It always seems like the wealthiest landlords, apartment owners, or short-term rental hosts walk away with not only massive income but little-to-no tax bills at the end of the year. Are investors unethically avoiding taxes OR are they carefully, quietly using the tax code to build wealth and bring their tax burden down to zero? And if the big investors can do it, can average investors use the same strategies?
Whether you own one, ten, or a thousand rental units, Matt Bontrager, CPA at TrueBooks, has a solution for you. He’s been working with real estate investors for years to help them minimize their tax burdens and maximize their portfolio values. And unlike most CPAs, Matt can explain these strategies in a way that excites you, instead of slowly lulling you into a depreciation-induced dream.
Matt touches on the most powerful ways to eliminate your taxes in 2022. These tax strategies work for almost every type of investor, whether you’ve got a full-blown business or just a short-term rental side hustle. These tax tactics, when used correctly, can allow you to walk away from 2022 with a bigger refund, no tax bill, or years’ worth of losses to roll over so you walk into 2023 in a better reposition than ever before.
David:
This is the BiggerPockets Podcast, show 689.
Matt:
I can buy a $50,000 car, put no money down, and if, let’s say, it’s over 6,000 pounds and all of that, I can get a $50,000 deduction for not putting any money down. So that’s why depreciation is so powerful because you get so much more. You get so much bang for your buck, we’ll say.
David:
What’s going on, everyone? This is David Greene, your host of the BiggerPockets Real Estate Podcast here today with my co-host, Rob Abasolo, who brought in one of his friends and people that work with him, Matt Bontrager, who is a managing partner at TrueBooks CPA and does Rob’s tax planning. So we got into a great conversation with Matt, which I think…