On today's episode of the Passive Wealth Principles podcast, Jake chats with Amanda Han, CPA, Tax Strategist, author and Managing Director of Keystone CPA Inc. As a CPA and real estate investor, Amanda has helped countless investors across the nation to supercharge their wealth building through proactive tax saving with her top selling Amazon books such as "The Book on Tax Strategies for the Savvy Real Estate Investor," and "The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors," as well as her teachings in prominent publications such as Money Magazine, Google Talks, and CNBC. She brings over two decades of tax planning and compliance experience from working in Big 4 Public Accounting as well as public and private companies.
During the episode, Amanda reveals how she and her husband realized that their passion for real estate lay not in the negotiation/hunting for deals side of things, but on the tax side.
She outlines some of the tax strategies and tips that people can use right now to save money on their taxes.
Amanda explains how a 'loophole' in the tax law means that you may be able to use short-term rentals (properties where the average guest's stay during the year is seven days or less) to offset short term losses.
She also reveals what happens when someone begins working with a CPA for the first time (reviewing past tax returns, possible exposures or mistakes made in the past, etc.)
Join Jake and Amanda for this fascinating discussion.
What You Will Learn in this Show:
- Amanda's journey to start her own accounting firm.
- How to use short-term rentals to offset short term losses.
- Some of the best ways to grow from a tax perspective.
- How to get your effective tax rate down.
- And so much more...
Keystone CPA Inc.