Join Ken as he talks with Danny Nelson of Nelson Financial Group (https://dnelsonfs.com/) about how to prepare for the long term, in both your personal and financial life. Danny has wide experience working with professional athletes as they move through their careers and set financial objectives; and he reveals what he has learned working with them, and how it can be applied to all of us, in this episode.
While many of the events of last year were unpredictable and unprecedented, we’re now at the time of year when we need to address a very predictable and recurring event: paying your taxes. If you’re a real estate investor, there are numerous deductions you can claim, including some you may not be aware of.
Before I get into the particular deductions, my number one piece of advice is to hire an experienced CPA. While it may be tempting to save some money by doing your own taxes, real estate tax law is extraordinarily complex and you could easily wind up paying more than necessary. It will be well worth your time and money to hire a CPA to make sure you follow the best approaches for your deductions and you take advantage of all of them.