2022 Real Estate Tax Webinar: Tax Strategies Kick-Off | Keystone CPA

By Amanda Han

In This Article:
    Add a header to begin generating the table of contents

    Secure your financial future with our free newsletter!

    Thank you for subscribing to the Silicon Valley Investors Club’s Newsletter – Investors Therapy!

    You will receive updates directly in your inbox.

    2022 Tax Strategies Kick-Off

    In this video, Amanda Han and Matt McFarland of Keystone CPA share the 2022 tax saving strategies they are looking at for real estate investors. The husband and wife CPA team behind Keystone CPA and authors of The Book on Tax Strategies for the Savvy Real Estate Investors, Amanda and Matt provide top-notch financial and tax solutions in assisting clients to achieve maximum profitability on their businesses and investments. If you like this video, make sure to check out their real estate tax courses. SVIC members are eligible for course discounts: Strategic Tax Savings Program / Jumpstart Your Tax Savings  


    In this video, you’ll learn about:

    • The current state of proposed tax changes
    • How to maximize your repairs and improvement costs
    • Ways to use entities to minimize IRS audits
    • Must-do action items when preparing for tax filings
    • Best practices in documenting your real estate hours
    • How to avoid IRS notices
    • Pros and cons of filing on time versus filing tax extensions
    • Demystifying 1099 questions for real estate investors
    • And much more!



    Episode Notes:

    00:11 Welcome and where we are today

    02:42 Tips to protect yourself

    05:08 Repairs vs. improvements for rentals

    07:30 Filing entity tax returns

    09:32 Gathering tax documents

    10:50 Filling out the checklists completely

    12:44 Real estate professional hours and short-term rental hours

    13:49 IRS backlog issues

    15:34 Identity theft issues

    15:55 Stimulus payment letters and child tax credit letters

    16:33 Creating your IRS online account in less than 5 minutes (link here)

    17:00 Items needed to create the account 

    19:56 Question: Extend or file on time?

    20:40 Benefits of filing an extension:

    • 20:42 More time to gather documents
    • 21:04 Less chance for mistakes
    • 21:22 More insight into 2022
    • 24:50 Retirement contributions or retirement repayments
    • 25:50 Reminder – taxes due to be paid by April 18th

    26:40 Common questions asked:

    • 26:53 What is a W-9??
    • 28:28 Who do I have to issue a 1099 to?
    • 29:45 Which forms to use?
    • 30:50 How about property managers?
    • 31:30 What are the deadlines?

     

    32:12 Q&A Session:

    You May Also Like:

    Join our free newsletter for the latest SVIC blog posts and special commentary only for our newsletter subscribers.

    Join Investors Therapy Today!

    [blog_newsletter_subs_form]

    Join our free newsletter for the latest SVIC blog posts and special commentary only for our newsletter subscribers.

    Join Investors Therapy Today!

    [blog_newsletter_subs_form]

    You are being redirected to a third party site.

    We are redirecting you to one of our third party partners.