EP061 Tax Tips to Save You Money - Tax Season Bonus with Duane Culver

Published: March 13, 2017, 5 a.m.

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Real Estate Investing offers one of the greatest paths to long-term wealth.\\xa0 However, one of the most important components of building that long-term wealth is often overlooked, or approached with dread & fear.\\xa0 Of course, I'm talking about taxes.

Today, in an effort to get past that fear & confusion, we delve into the tax benefits and reporting methods of real estate investing with Duane Culver, CPA and President of Culver CPA Group.

Duane is going to talk us through year-end tax reporting and what you should know if your are a wholesaler, flipper, rehab-er, or buy & hold investor.\\xa0 Duane explains terms like 'depreciation' & 'basis', the difference between investment & business income, what is a balance sheet and profit & loss statement, retirement planning & IRA's, as well as common mistakes different types of investors typically make when they fill out their tax forms.

If you're about to sit down & do your own taxes, or you have a professional prepare them, it pays to learn as much as possible about tax rules & how they apply to real estate investing.\\xa0 The more you understand, the more you'll be able to use tax law to your advantage, avoid mistakes, and prevent IRS audits.

Duane can be contacted by email, his website, or phone:

dculver@culvercpagroup.com

www.culvercpagroup.com

616-456-6464

Enjoy the show, and please take a moment to go to itunes to subscribe, rate & review.

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