Ep 49: How to Qualify as a Real Estate Professional for Tax Status Explained with Brandon Hall
In episode #49, we had the opportunity to sit down with Brandon Hall who is a Managing Member at The Real Estate CPA firm. Brandon is a very knowledgable CPA who specializes with primarily working with only real estate investors and business owners.
In this episode, we cover a very important topic, "How to Qualify as a Real Estate Professional for your "Tax Status". I have heard bits and pieces of how to qualify and the benefits of qualifying over the years, but I never had everything explained to me so succinctly before. This episode is a must listen to interview if you are interested or even contemplating trying to qualify for this tax status.
💥💥 Remember, this is your MBA. Have a notepad handy and get ready to take some 📝 notes!
Below are few topics that we covered during the interview:
✅ What exactly is this tax status and why would a real estate investor want to qualify for this status?
✅ Are there any exemptions to receive the 'benefits of qualifying', if you do not qualify?
✅ A brief explanation of the value of money theory.
✅ "How" to actually qualify. There are 2 steps and several "tests" or criteria that you must meet in order to qualify. We go through some on these in detail.
✅ Documentation tips and suggestions.
✅ And More....
Brandon's Bio:
Brandon Hall is a Managing Partner at “The Real Estate CPA” and is also a real estate investor. His area of focus is Tax Planning. His firm prides themselves on working with only real estate investors and business owners. He has a Bachelors of Science degree in Accounting and Finance from Eastern Carolina University and has worked for PriceWaterhouse and Ernst and Young in the past. You can reach out to connect and speak with Brandon by:
✅ Website
✅ Download a Free Guide for Qualifying as a RE Professional
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