Our review on a worthwhile read for real estate investors –particularly beginners.
Written by Amanda Han and Matthew MacFarland, CPAs and real estate investors, The Book on Tax Strategies for the Savvy Real Estate Investor shares valuable advice and insight on the tax angle of real estate investing. Written in an engaging, lets-have-coffee style, Han and McFarland share comprehensive guidance and strategies concerning the whys, the hows, and the potential pitfalls of real estate investing.
This easy-to-read, well-thought-out book is full of information, including loads of advice such as –
- Emphasizing the need for and teaching the how-to of proactive tax planning before investing in real estate –detailing the ways and means of complete and accurate record-keeping and documentation.
- Offering simple techniques and processes that protect you from an IRS audit while using creative strategies to maximize your deductions –such as getting the most out of your travel deductions or writing off your kids.
- Identify how flipped properties are taxed differently than other real estate investments and what effect that has on individuals.
Hans and McFarland turn complicated real estate tax and legal matters into easy-to-understand concepts. They utilize real-life examples to explain complex tax laws, enabling those with little or no real estate, investing, or finance background to understand tax codes and make wise, financially favorable decisions. It’s a must-read if you’re looking for strategies and tips to minimize what you owe to Uncle Sam on your real estate investments. As one reader/reviewer said,
“I’ve been a CPA for 20 years and also invest in real estate. I picked up this book as much out of curiosity as anything else. It is perhaps one of the best-written books for the non-practitioner out there. If you are new to real estate investing, this is a MUST read. While you likely can’t prepare a Schedule E off the book, you will get good advice on what to discuss with your tax preparer and how best to document and look for deductions. The book is written in normal English, using stories instead of code sections. There are not a ton of numbers, but there are a ton of useful tips and principles that anyone can follow…especially if you hate taxes. Even the experienced investor or practitioner may pick up a few tips along the way. I did. A great addition to the library.”
Furthermore, it scored an impressive 9.37 out of 10 on BestViewsReviews, based on readers’ opinion of – Knowledge. Overall Satisfaction. Readability. Theme. Value for Money.
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