Tax planning meets real estate investment ppportunities in this MUST READ post. Many savvy business people meet with their tax planners in the last couple of months of the year to do pretax planning. If you are one of these people, you know what I am talking about. If you have not ever done so before, you may elect to talk to your tax professional in the fourth quarter of this year. This step may make (or save) you thousands.
I am receiving many phone calls from people who have talked to their accountants and who are looking to invest NOW.
You see, when you do Pretax planning you often uncover the double edge sword. This is where your tax preparer tells you, you have had a financially prosperous year. After 60 to 90 seconds of bliss he tells you, you will be subject to a huge tax liability to Uncle Sam for all the money you made, and down comes your sail. Great news followed by terrible news. Relax, the next thing he should tell you is you have time to spend some of your profits and avoid paying that big tax bill (remember tax avoidance is very much legal, tax evasion on the other hand is very much illegal).
So let’s go for the Tax avoidance. Many seasoned investors like to take their pretax planning strategy and capitalize on the fact they have money and still have time to position themselves to avoid having the big payday to Uncle Sam. Now is the time to talk to your Tax professional about the current year.
See how you are positioned. You may be able invest some of your money to create residual returns as opposed to giving it all away to Uncle Sam. You may also ask them about any 401 k money or Roth Ira money etc. these are all great vehicles to utilize so you can capitalize on this most unprecedented real estate investment opportunity. A little planning can go a long way and save and or make you tens of thousands of dollars.
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