In this video, Kevin Gormley, CPA, CFP® from Leading Edge Financial Planning dives into the tax implications of real estate investing. Learn about the benefits and limitations of real estate taxation, including concepts like depreciation shields, real estate losses, and 1031 exchanges. Kevin explains how real estate taxes apply to rental income, but may not directly reduce your W-2 income taxes.
Discover strategies like loss harvesting, the short-term rental loophole, and how depreciation can create "phantom expenses" that lower taxable rental income. Kevin also covers key topics like:
• Depreciation recapture when selling real estate
• 1031 exchanges for deferring taxes on capital gains
• Self-directed IRAs and LLCs in real estate investing
If you’re a real estate investor or pilot looking to understand real estate taxation, this video is packed with insights to help you build wealth and plan effectively.
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Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions.
