Taxes and Real Estate with Tom Wheelwright, CPA

[@BretWickstrom]

Thank you so much. Tom's wisdom was exceptionally helpful.

[@tifphanietucker]

Great show and a wealth of information. Thank you

[@tomyshaw977]

Love real estate investing.

[@ADPI]

Rock and roll dude!

[@deanw8722]

@ 30 min. Correct me if I'm wrong. If your rental prop. Is operating at a loss a bank will not give u a loan(aka the leverage). You can't have it both ways. Banks won't invest their money in a losing business.

[@Delta-ru5es]

This is great

[@naturaltreatmentofdiseases8339]

Tom is great 👍

[@freedom_4all]

Is there a benefit to rolling my TSP into a self-directed IRA or solo 401k, or does the same apply?

[@robreke]

Did he say you can withdraw funds from an ira and buy real estate and those funds, even if it's as much as 100,000 dollars are tax deductible from your income? Is he only talking about investment real estate? Is this within a LLC only? I can't find anything like this online to corroborate what he's saying. Can you please clarify the details of what he said? Thanks

[@sophiec3592]

Came from Ken elroy

[@a.whitneyshea7235]

Hey, guys- would love a recommendation for CPA (great channel btw!). Hubby is an active-duty Marine (26 years... so far 🙃) and we are heading back stateside soon. Own two homes (FL and SC) and looking to purchase in Tucson area when we get there. I am the owner of a small business (LLC) and our eldest is heading to college. Mark J. Kohler seems to really have all that is am looking for- I think- but they have a huge waitlist. Would really love to find a good fit to work with long-term. Thanks in advance!

[@ADPI]

Jump into our Facebook group and we’ll get you connected!

[@johnb9710]

Hello, Can I buy house under my LLC and rent it to my self?

[@ADPI]

Technically you could, but I would recommend reaching out to NCH to look into your particular situation: www.nchinc.com/adpi

[@informationprocessor]

Great contents. I've been listening to you guys for a while. I'm a high school senior currently in JNROTC thinking about joining the navy through the ROTC program. I'm curious which career path in the program will offers the best opportunity to move around and invest in real estate. I'm concerned that most of my time will be aboard a vessel.

[@joeonthegorvtech3276]

Hello, I did 20 years in the Navy and had a blast. A friend of mine bought a home at every duty station, approx. every 4 yrs. I wish I would have done that. Use professionals and do something like that and you will come out way ahead. On a different note, join the military as an Officer. Get your degree first and go in commissioned. That's the best way I think. Good luck. Joseph :)

[@kathyluciana8667]

can I set up an LLC as a single-member and chose to be taxable as S Corp ? is that make sense

[@ADPI]

Yes absolutely you can do that! Make sure you advise with a tax professional as there are some things you need to be careful of but it is definitely doable.

[@kathyluciana8667]

@@ADPI Thanks for your response, I appreciate it.

[@a.whitneyshea7235]

@@ADPI - but better to wait until you are earning a certain amount to transition into S-Corp?

[@MilitaryCashflow]

Great interview!

[@a.whitneyshea7235]

Time to sell any of our single family homes with this market? Wondering if doing so at the potential "height" of the market and holding on to $ until there are more affordable options could be viable? By the way- love the podcast/channel- thanks for all you do!

[@kathyluciana8667]

can I live on my own real estate investment and report every month my payment rental as if I would have been a renter?

[@staffordestatesales8548]

At the 12min mark Tom says,Take 100K out of IRA and buy $500K rental property. How do you write off $150K?

[@markbons7766]

At 18:20 Wheelright explains the it

[@kontomylitis]

Why are you saying never put investment real estate into a corporation? This is a controversial statement. Did I hear you right?

[@ADPI]

He’s saying that in most cases a limited liability company (LLC) is more beneficial tax-wise for real estate than a C-Corporation. We’ve got some legal and tax experts if you have further questions . . . I’d be happy to connect you!

[@k.ganesanganesan6825]

Taxes Real estate politics is a bad twist.

[@bigblue8986]

Lost me with the pulling 100k out of ira .. how does he save 150k in the first year???

[@markbons7766]

At 18:20 he explains how some assets on the property are immediately tax deductible due to a shorter life span and may be perceived as a 179 deduction (expensing as opposed to depreciating over time).

[@RM-zx9do]

guy on the right is having his mind blown over and over again lmao

[@nellosnook4454]

Great interview! But please stop saying “Awesome!” so much. It’s distracting and makes you appear as a silly teenager.

[@robertruiz8704]

Great content thank you. Please stop saying my gosh and sound so unprepared. Have good follow up questions if you can . For your partner and or associate don't attempt to compete how smart you are or want o display how knowledgeable you are compared to the speaker. You are trying too hard.

[@paulineaguirre1968]

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[@kawschung9413]

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