When Irs Form 13844 Strategies 2024

I am Paulmor from Wellings Capital. I should have introduced myself, and so here we go. Ten ways you can partner with the IRS. Number one, direct investment. What I mean by that is if you directly invest in real estate through yourself, through an LLC, or some other way, you're directly gonna get the tax benefits of the real estate. Now, if you invest in shares of a company, you're not gonna get that. If you invest in lots of other things out there, you're not gonna get that. But if you own real estate through a syndication, like my company does, if you own a partial, a fractional, or a hundred percent of a piece of real estate, you get these great tax benefits. So, number one, make sure you're a direct owner, either through an LLC, a partnership, etc., in the real estate. Okay, number two, a great way you can save on taxes is to hire a tax strategist. Now, people have been confused about this on BiggerPockets when I talk about it. I'm not saying fire your CPA. I'm not saying fire your attorney. But make sure they're a tax strategist. I had a friend named Edie in California, and Edie had paid about $120,000 a year in real estate taxes for many years. Edie went to his CPA one day and said, "Hey, I saw this article here about this tax saving strategy. Why don't we do this?" The CPA said, "Well, you could do that. That'd be a great idea and save you a lot of money." Edie got angry and said, "You've known about this already for years, and you didn't tell me about this?" The CPA said, "You pay me to be your CPA, not a tax strategist." Edie fired that...