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Join Tony Hong, a licensed CPA with over a decade of experience, as he walks you through essential tax planning strategies in this comprehensive masterclass. Discover the importance of having a tax strategy versus just filing taxes, and learn how to save money and stay compliant. Tony delves into common tax misconceptions, the pitfalls of using TurboTax for complex tax situations, and the levels of tax management from basic to advanced. Learn about various tax-saving opportunities, including the benefits and drawbacks of different business structures, investment tax credits, income shifting, and the importance of real estate professional status. Tony also discusses practical scenarios, such as the real-world struggles of W2 employees to optimize their taxes and how certain tax strategies can significantly reduce your tax liability. This session is packed with valuable insights to help you create an effective tax strategy for the new year. Don’t miss out on tips that could save you thousands of dollars annually.

00:00 Introduction and Welcome

00:26 Meet Your CPA: Tony Hong

00:58 The Importance of Tax Planning

01:24 TurboTax vs. Professional CPA

03:12 Tax Strategies for Real Estate Investors

08:04 Advanced Tax Planning Techniques

09:42 Entity Structures: LLCs, S Corps, and C Corps

14:10 Tax Benefits for Passive Investors

19:16 Income Shifting and Investment Tax Credits

21:22 Introduction to Capital Gains and Depreciation Recapture

21:36 Unlocking Passive Losses from Syndication Deals

23:37 Grouping Elections and Their Implications

26:51 Charity and Tax Deductions

29:38 Real Estate Professional Status and Tax Strategies

33:51 Investment Tax Credits and Passive Investing

43:24 Final Thoughts and Tax Planning Advice

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LinkedIn: https://www.linkedin.com/in/lanekawaoka/

Facebook: https://www.facebook.com/TheWealthElevator

Instagram: https://www.instagram.com/TheWealthElevator

Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016.

Check out our Top-50 Investing Podcast, The Wealth Elevator.

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