Shownotes Transcript
LLC owners and anyone who owns real estate: TUNE INTO THIS EPISODE! Today, we’re talking to Brandon Hall, CPA, about an urgent change affecting EVERY LLC in America. Not knowing about this change could **cost you up to $10,000 **in fines, but don’t worry; Brandon will tell you precisely what you have to do to avoid the fine entirely!
Even if you don’t have an LLC, we’ve still got some **2024 tax tips **to help you pay WAY less to the IRS this coming tax season. Brandon will review the new interest rate updates from the IRS and explain why you could owe much more than your taxes when you file. We’ll discuss the **gradual decline of **bonus depreciation) and whether performing a cost segregation study) in 2024 makes sense.
Lastly, we’ll touch on opportunity zones and what to do if you have a large gain you DON’T want to pay taxes on. Plus, an instant red flag when looking for a CPA!
In This Episode We Cover:
The one thing EVERY LLC owner must do to** avoid a $10,000 fine**
Bonus depreciation’s decline and how much you can write off in 2024
Cost segregation explained and whether or not this **HUGE tax benefit **is worth the effort anymore
Opportunity zone investing) and **turning a significant profit into tax-free investing **
The** IRS’s new **interest rates) and **penalties **that could **cost you thousands **
Where to find a CPA) and one big red flag when searching for one
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise)
Connect with Other Investors in the “On The Market” Forums)
Subscribe to The “On The Market” YouTube Channel)
Hear Our Last Episode with Branon on “The Biggest Real Estate Tax Loophole”)
Connect with Brandon:
Brandon's BiggerPockets Profile)
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-165
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