I have a special guest back on the show today. We just finished recording an episode and we thought we would talk about the elections that are available to you as a real estate investor that the tax code provides to help reduce, minimize, and potentially eliminate your taxes. And they’re referred to as elections. So I have Chris Piccurio back on the show with me here. Welcome back, Chris.
It’s awesome to be back again. I’m excited.
So just a quick little intro for you. Chris is the executive officer and the co founder of integrated financial group, and they are a nationally based financial firm and they strive to provide sound financial services to individuals, small and medium sized businesses. Chris, I really enjoyed my conversation with you on the last recording we just did about taxes and it just makes me realize, and it’s a reminder of how complex it could be and how deep it goes and the importance of having a professional tax advisor or CPA on your team to help you identify all those tax deductions and ways to minimize, reduce, and eliminate taxes. And on the last episode that we just recorded, you had mentioned some elections and I got thinking, wow, there’s quite a few elections. And then you and I identified five in particular that I think are well worth talking about. And I strongly believe a lot of investors are not familiar with all five of these. And so this has become the topic of this episode and that is these five elections that you can take as a real estate investor. So before we dive into that, just briefly, because this episode is going to come out shortly after the first one, just give us a quick overview of who you are and what your firm does.
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Well, I am, again, honored to be on the show, as you know, I’m a listener and, you know, I enjoy listening, listening to, to a lot of your episodes and now a lot of your guests, but, and I am a with Integrated CPA Group, I’ve been in practice for 18 years and we, what we do is we legally and ethically reduce the amount of taxes our clients pay over their lifetime. And our clients consist of entrepreneurs, real estate investors, and highly taxed households. And we do that using a membership-based subscription model. And so we were very proactive focusing on tax planning and strategy. Obviously there’s a compliance component to our work, including tax returns maybe some like bookkeeping payroll processing, but the main focus is tax planning and strategy. And I’m just like this episode, there are so many tools available that we want to take advantage of.
And one of the things we want to consider on a tax return, in general, are the things that are not numbers on your return. And that’s so important when it comes to what we’re going to talk about today are tax elections. Even what your, a sector industry code is on your tax return is important. Why don’t you list as your occupation can be important? So for real estate investors, there are five special election. Some of the elections do pertain to other industries, but five specifically for real estate investors that I think are important that we talk about. And hopefully, the listeners, if they think one might apply to them, could either take advantage of the election and or at least consult with their CPA or tax advisor about it.
So before we dive into those five, you know, we as real estate investors, we talk about cash flow all the time, you know, the importance of cash flow, how do we get to cash flow? How do we improve and increase our cash flow? But you talk a lot about tax flow. And I thought that was a very interesting term. Just talk about the difference between cash flow and tax flow, because the way you described it was very eyeopening. And it makes you think about real estate in a different way. So you’re looking at it, not just from one angle about cashflow, but you’re looking at it from another angle, from the tax side of it.
Well, yeah, so we’ve come up with a concept. Obviously everyone’s aware of cash flow, but tax flow is a component of your cash flow. And sometimes they work inversely. Sometimes they work together. And what we know is that every tax planning opportunity and every situation provides a tax flow result, some could be negative, some could be positive, some could be a result of a great planning. Some could be an accidental lock. But what we do know is that, as I said, from the beginning, we’re trying to reduce the taxes you pay in your lifetime. So it doesn’t always mean take every deduction today, but we also have to consider that once a tax is paid, essentially it’s gone. It’s like putting money into a black hole and you never gonna to see it again, obviously, there are rare exceptions, but the cares act where you can, where you can now take those operating losses and roll them back. But for the most part that let’s just consider that tax money is gone. And so we have to consider the tax blow as part of it. And there are some things, there are some tax strategies that actually have a positive cash flow and don’t cost you anything in tax flow, meaning it could reduce your tax liability while increasing the cash in your pocket. So those are the concepts. And what I could do is, as we talked through these elections, I’ll kind of apply that concept each one.
So when I think about elections, I think about a square checkbox on the tax form that you just put your pencil or pen on, and you just tick the box. How do you describe or define what an election is? Because I oversimplify things sometimes. And that’s the way I look at elections.
Well, I’m glad that you simplify things because smart people take complicated things and make them easy. So all an election is, is it’s a statement that you’re attaching to your tax return, that you are taking a position on some type of activity or transactions on your tax return. That’s either allowed by the internal revenue code, and many of them are safe harbor elections. What that means, I’ll give you an example that everyone can, can understand. There’s a safe harbor for business. Mileage of let’s call it 58 and a half cents or whatever it is per mile. Or if you have a business vehicle, you can deduct the actual expenses, including depreciation and insurance gas, and you have to allocate the business use for personal use. And the federal government basically has said, we don’t want to screw around with this. We’re just going to give you a very generous 58 and a half-cent or whatever it is whenever you’re listening to it, whatever it is that year deduction for every mile you drive.
And we know for the most part if the average vehicle gets 20 cents per gallon, and even if gas prices are $4 a gallon, your cost is 20 cents a gallon, and you’re getting a 50% deduction. So you’re really electing to use the standard mileage deduction. There’s not a formal election that gets attached to your tax, but that’s an example of a tax selection. The ones we’re going to talk about have to get attached to your tax return. Same with the home office. There’s a simplified home office deduction and an actual home office deduction. So when the IRS doesn’t want to go through the cost-benefit of enforcing something, they create a safe harbor for us to say, if this client or taxpayer qualifies under these rules, no questions asked they get that tax benefit.
So having said that if you take an election, like you’re talking about, are you leaving money on the table? Because you’re getting less of a deduction as if you had fully itemized it and gone through the longer process of calculating what that deduction would have been.
We have really, we’ve never taken a deduction that has a negative impact. So you’re not typically the safe harbor is something that is pro-taxpayer in general. Because again, it’s a cost-benefit of figuring out business miles or home office. I mean, an auditor doesn’t want to weed through your utility bills, right? They just say you’re getting $5 per square foot. Sometimes it might be better for you to take the actual home office deduction. The only time we need election would reduce the monitor deduction that you take would be as if you elect out of what’s called bonus depreciation on new assets that are purchased. But we would do that because we feel that you are in a really low, you have no real mark tax to pay this year, and we want to push those reductions to the future. So the elections, but I guess to simplify it are always going to be pro-taxpayer.
Okay. All right. Let’s talk about lowering our taxes. So let’s talk about these five elections. And the first one is one that got me really excited because to me it’s a big deal. It’s a big haircut on your tax bill, if you can qualify for it, or if it applies to you. And that is a, what is technically to as the 199A but in English, it’s really the rental real estate safe harbor election. And this is a potential 20% tax savings. So explain this and how it works.
Right? So a lot of us know about TAC, the tax reform act what we call it, it’s an effective 2018. Part of that act was that the corporate tax rate went to 21%. And so everyone done that C corporations and to prevent everyone from just becoming a C Corp to balance this, the government said, okay, if you’re not a C Corp, if you’re, if you’re an S Corp or just not a C Corp, but sort of that way, we’re going to give you an additional 20% federal deduction based on your net income. Now, there are, there are phase-outs and there are limitations, but just let’s work with that number. Well, a lot of our clients have net income from the rental property. Even after we deduct the depreciation deduction, we’re finding this a lot in our short term rental markets or clients that don’t have mortgages on their property.
So if that’s the case, if they’re showing a net profit from the rental activities, there’s an opportunity to take another 20% deduction on top of all of their deductions. They already have for insurance real estate taxes, management fees. But the question became is owning a rental property, qualified business income. Is that a business or is it not so dire that the government created a safe harbor? The IRS created a safe harbor that said, okay, you’re going to qualify for the 20% QBI qualified business income deduction. As long as you do two things, one, you maintain the separate books and records for your rental enterprise. They didn’t say you have to use QuickBooks. They didn’t tell you how to use an Excel spreadsheet. They just said have separate books and records. So it could be as little as have a separate bank account to perform 250 or more hours of rental services each year to your portfolio. But here’s the cool thing. The 250 hours of service can not only be performed by the owners of the property, but employees, agents, and independent contractors. So that includes your property management team, your plumbers, your everything, your real estate agents. So it’s pretty easy to hit that 250-hour mark for the year. If you do there, you just sign a special statement and you make that election, and now you have an additional 20% federal tax deduction.
So that’s probably not that difficult to qualify for the only question or concern that popped in my head is how do you either document or prove the 250 hours over the course of a year, because it’s hard to track other people’s time. They’re not logging it. And it might be unreasonable for you to ask them to log it for you. So, you know, if you ever had to prove there was 250 hours, how do you do that?
Yeah, I mean that, so I don’t know of any case that has gone through the audit process. That they’ve it. So you’re, yes. You’re supposed to keep a record, obviously. If you have a calendar and you’re doing meetings, that’s going to be, that’ll all be in there, your emails, your correspondence will be in there, the property manager, you know, it, I guess I’m looking at this. If I had a client that was examined by the IRS and they own five properties that were professionally managed, what I would do is I would ask the property management company to provide some type of letter with, please tell me what the average time to manage a property is if it’s an hour a month, you know, and you have five properties, that’s, that’s five times, six that’s 60 hours. I think it’s more than an hour, but let’s just use those examples. So what’s included, I mean, is advertising for rent or lease negotiating, executing leases, qualifying tenant applications, rent, collections, operations. So it’s a pretty broad brush. So I mean to say that you put five hours a week between yourself and your property management team into an activity is pretty easy to find.
It’s an exciting and election. And I think everybody listening to this should look into it. It’s, you know, 199A, it’s a 20% reduction in your taxable income on businesses and your real estate business. So if you’re running multiple businesses, you’re self-employed, as long as it’s not a C Corp, you know, this may apply to you
Exactly. Cause the seed Corp tax return. I mean a C Corp tax rates went down to the flat 21%. So that 199A was really to balance that out.
I love it. Okay, cool. All right. So unless you have anything else to add to that, we’ll move on to that second election of the five elections that I think all real estate investors really need to know about. And that is the de minimis safe harbor election. There’s a word that you don’t use every day.
Oh gosh. I don’t want her kidding around that. Every time I put that in an email, I get the spellcheck making it, making it red, but yeah, what, what this is is it’s it’s part of the tax code or regulations that says landlords or any business owner. We use a selection for business owners, any can deduct up to $2,500 of the cost of any tangible property used in their trade or business. And that deduction limit is on the quote-unquote invoice level. So that could mean an appliance. Let’s say you buy, I hope, I don’t know. You’re probably not buying a $2,000 refrigerator for your rental property, but maybe let’s say you did. You would typically have to deduct that refrigerator over a five or seven-year period, but now you could just make a de minimis safe harbor election and deducted immediately.
The advantage of this is that it’s, it’s helping your one, you’re laying out cashflow, but it’s reducing your tax flow because you’re getting an immediate deduction for those expenses. It also is not increasing the basis of your property and it allows you to not have to pay depreciation recapture. If you were to sell that property on the depreciation you took from, from these expenditures. So what the IRS was really saying is that look, any improvements you make under $2,500, just deduct them. We don’t want to tangle with your fixed asset schedules and, you know, just, just take the deduction to make the election for some taxpayers that that limits $5,000. But for 99% of the taxpayers, it’s going to be a $2,500 de minimis safe harbor election. So any, any, like I said, any line item, that’s 2,500 loss you can deduct immediately. I would say the only drawback is that if someone’s really concerned about financing or bankability in general what I found is the underwriters are, they’re going to just see it’s going to be listed as in most astronauts repairs and maintenance and just a number. So for some of our clients that are really concerned about that, we actually create a separate line item on their tax return that says, do minimize safe harbor eligible expenses. In general, that’s going to be an add back. I’m not going to promise that because I’m not a lender, but again, you know, we have a practical side of our, what we’re doing with the practice.
So you’re saying to be able to add that back to your qualifying income if you’re going for financing, you breaking it out as a separate line item and actually calling it de minimis safe harbor a deduction, as opposed to putting it in the maintenance and repairs line item on your tax rates.
Exactly. For taxpayers that are really, really concerned about it. Some of them aren’t that concerned, but yeah, so that’s a concern they have. And I want it in another thing that you can use this in any business. So this would include computer and cell phones because technically cell phones were a capital asset and I’ve looked at some depreciation schedules, but a bunch of cell phones and little computers and phone systems. So, so this really helped all of us out. And that’s something that you should, we pretty much make the selection and almost every tax return for business owners
Does this apply to capital expenses as well, or just maintenance and repairs?
It’s any tangible property. So a cap, it could be, it could be a window. It could be, it could be replacing us, you know,
So this will apply to larger capital expenditures like roofs, HVAC, windows, and whatnot.
It could, it could if it’s under the $2,500 limit.
Oh, so let’s take a hypothetical example. What if you have, let’s say a $5,000 maintenance and repair item or a $5,000 capital expenditure, and you can qualify for the $2,500. How does that work? Do you deduct the 2,500 from the 5,000?
No, you can’t use that. That would be the 5,000. You’d have to either find him one of the great segue to the next, the next couple of elections. You’d have to find a way to take that deduction under one of the next two elections or worst case. If it’s like a roof you could, or landscaping, or something that could qualify as bonus depreciation, you’d still be able to deduct it all now. But yeah, if it’s $5,000, you wouldn’t be able to get it in this particular safe harbor.
So I’m assuming that if you have a year where you actually had, or have no maintenance and repair expenses and no cap-expenses, you’re having a good year with no out of pocket expenses to cover. Can you still claim the safe harbor election?
You could, but you really wouldn’t need to because you don’t have any qualifying expenses. Okay. That’s pretty rare, you know, I mean, yeah. So you, in that, if you had one property and that was a fact pattern, and then I would not do this election.
Okay. Maybe this is a dumb question, but doesn’t this double up on the deduction because maintenance and repairs are already a deduction on your tax return. Right. You’re going to deduct that anyway. So when does this kick in?
So it kicks in though, if you ha if you’re, if you have a capitalized asset, so repairs and maintenance are deductible, but replacing appliances is those should be before this set up for depreciation.
Oh, I see. So this would apply to things that you would typically depreciate over time, not take as an expense 100%, that same year.
Exactly. And there’s such a low amount. Its kind of like the IRS says, just take it all now.
Got it. And this is per year?
It’s $2,500. There’s really no limit it’s per line item. So you could have a $300 HVAC unit, a $1,200 carpet redo where you would typically capitalize those though. You could be under the de minimis safe harbor and those and just deduct them.
And that’s also per year that this applies on every annual tax returns?
Yeah. So it’s but it’s per item. Not per, so, so thinking about that per year. Yeah. So not 2,500 max. So this is gonna play a big role when you’re doing a make ready or a term, right. You’re not, you’re typically going to have to replace some things on the tenant leaves. They’re usually things that you would capitalize, and this is a great opportunity to deduct them immediately.
Wow. Wow. I hope everybody’s listening to this and there’s no recapture on this. Is there?
No, because it’s just a, it’s basically repairs, a maintenance deduction. We just bring that out sometimes. Yeah.
Okay. All right. I’m amazed that this one, I didn’t think it was that broad and deep, but that’s powerful. Okay. Well, that’s a good segue to the next one. The routine maintenance safe harbor.
Right. So sometimes, and that’s where it gets confusing. Sometimes an expenditure might fall into a, so the first election we may we were talking about is simply to get an additional tax reduction. If you have a profit, the next three are a way to deduct your expenditures immediately that you otherwise would have to write off over time. All right. So the, and sometimes you might have an expenditure that would meet more than one of these safe harbors, but the routine maintenance safe harbor says routine maintenance work is deductible. As long as you’re not creating a betterment of the property, even if it exceeds the 2,500 hours. So really there’s a lot of gray area in this. I do understand, but there is no limit to the routine maintenance safe harbor. The issue becomes, are you maintaining the property or are you creating a betterment?
So this sounds like it falls under maintenance and repairs. What we would generally classify as maintenance and repairs, not capital expenditures, not capital improvements, not adding square footage. It’s just your regular day to day, month to month, year to year maintenance and repair.
Correct. So that it could be, here’s an example. What if you have a $5,000 expenditure for redoing all the carpeting in an apartment building or a, you know, in the, or whatever in a, in an office complex, well, you’re over the de minimis $2,500. You should technically capitalize the carpeting, but it’s considered routine maintenance. So now you can deduct it. You’re not improving the carpeting. You’re, you’re maintaining it. If that makes sense.
So what does this look like in practice? I mean, if you were to translate this to what’s allowable or what you can claim, what does it look like in practice?
Well, I mean, now we’re a little more conservative on capitalization because we get to deduct the carpeting anyway. Right. You know, because of bonus depreciation, we’re going to deduct it a hundred percent with tax reform. This particular safe harbor isn’t as valuable because even if you don’t qualify for it, you’re pretty much like I said, I’m going to get the immediate deduction, but we have to also remember there are some States that don’t conform to the bonus depreciation and immediate deduction, and it’s added back to your tax. So on this, this one it really comes down to, do you have an expenditure that you would that’s over the de minimis amount that should be capitalized but is really just maintaining the property and not bettering it or increasing the value.
So take the de minimis safe harbor election first, that’s your first 2,500, anything above and beyond that you would apply to the routine maintenance safe harbor.
Kind of, but so that de minimis safe harbor though, the $2,500 is not the limit of the, of the deduction. It’s $2,500 per item. So you could, right. So, yeah, but there, there is an interplay. So that’s why I’m saying deduction could qualify under both of those.
Right, right, right. Okay. Great. All right. I hope everyone’s taking notes unless you’re driving. Yeah. I know who would be a bad thing. Okay. So all right. Anything else to add about routine maintenance before I go onto the next one?
No, I think we’re good.
Okay. So the next election is the safe harbor for small taxpayers. Correct? First of all, let’s define what a small taxpayer is because everybody feels that they’re a big tax payer, regardless of how little they pay.
Right? So a, a small taxpayer is going to be someone with the, properties under adjusted basis. The properties and adjusted basis is less than a million dollars. So pretty much think about this. If you’re in general, 30,000-foot view, if your property is a million dollars or more basis, doesn’t necessarily mean fair market value, then you’re not considered a small quote, unquote, taxpayer, it’s going to be.
You are, or you’re not?
You’re not so a million dollars or less of an unadjusted basis. You’re a small taxpayer.
Okay. And that’s per property. That’s not your portfolio?
Correct.
So you can have a hundred properties worth 500,000 basis cost basis, and you qualify as a small taxpayer.
Correct.
Okay. So what’s the safe harbor here?
Or here, is that any repair maintenance or improvements that are less than $10,000 or 2% of the unadjusted basis of the building? Whatever’s less are immediately deductible. So now people are flying off the road saying what in the heck? So let’s look at the situation, let’s say
See how many accidents you’re causing Chris?
Well, that’s like, so this one’s really good with commercial property because remember commercial property is the building components 39 and a half years now, 27 and a half. But let’s say you have a $600,000 commercial property. Right. And you have an $8,000 expenditure. Okay. You’re, you’re over the de minimis safe harbor. Let’s say you’re bettering the property. What if it’s like new awnings or new signage or something? Right. So $600,000, 2% of 600,000 is 12,000. So the lesser of 10,000 and 12,000, right. 2% of undigested basis or 10,000, it’s 10,000. So I’m glad I’m up until like fourth grade now. So since your $8,000 expenditure is less than 10,000, you could deduct the $8,000 expenditure immediately instead of having to capitalize it because you didn’t qualify for one of the other safe harbors to deducted. So signage would be a good example or, or something like that.
So this obviously applies to residential. What would be a, maybe a more typical example on a residential property?
On residential, would be, man I’d say an HVAC unit, you know, something that would be, would be a good one, you know, it might be, let’s say it’s $4,000 for a brand new HVAC. Technology’s better. So you’re bettering the property. It’s over the $2,500. So a $4,000 HVAC unit just running some numbers as long as the adjusted basis of the property, you know, it’s under the 10 grand 2%. So if the adjusted basis of the property at the basis of the property was 150 grand, 2% of that is 3000. I mean, I don’t know if you’re putting a $4,000 HVAC unit in $150,000 property, but so my numbers don’t might make, might not make an HVAC unit would be a good example of that.
So this is good for someone who wants to take that deduction and apply it immediately in the current tax year, as opposed to choosing to depreciate it over time, the five years, 10 years, whatever the schedule is for that asset.
Correct.
Yeah. Okay. So these elections seem to stack on top of each other, they kind of, they add up, it’s like an escalating series of elections.
Correct? Exactly. It’s kind of like the, we like to use the, you know, like a cup, like if I’m trying to pour my water in that cup, that cups fall, we don’t put it in there. Let’s go to this one. Let’s go to this one. Sure. And we’re trying to find a home for it. Sometimes it expenditure might qualify under multiple elections, but yes.
Okay. All right. So that leads us to the fifth and final tax election and that’s the rental grouping election. And I think this is going to apply to a lot of people listening to this. So what is it and how do you take advantage?
Sure. Well, we know that, especially if you’re in a single-family rental, you know, business when we look at it, let’s take an example of that 250-hour tests, right? The first election we talked about, there are also tests as far as if, when we’re looking at, if you’re trying to be qualified, trying to qualify as a real estate professional, but 750-hour test or the material participation test to 500 hours not to get, but when we’re applying tests to a, to an activity, or if we have a loss in one activity for tax purposes and a profit in another activity, we want those to be able to offset each other. Or we want to be able to count our hours towards our real estate enterprise in aggregate. So what we do is if you have multiple properties, we make a rental grouping election, which is telling the IRS, I’m aware I have 10 properties, but for tax purposes, these properties all aggregate to one activity of being a landlord. And when you apply your tests to me, either the, the passive loss, passive activity, loss tests, or the activity tasks, what I would call you know, that we just, I just talked about, you are applying it to my activity as a whole. You’re not breaking every little property down and making me prove that I have active participation or material participation, each property autonomously.
So I don’t see a reason where, or why someone would not do this. I mean, if you have multiple properties, why would you not group them together? It just seems like an obvious election to be taking.
Right. Exactly. I would say I can’t, honestly, I can’t think of one client that we don’t do a rental grouping election for, that has multiple properties, right. Unless they have a profit on all their properties because the rental grouping election really helps them with being able to deduct passive activity losses, or offsetting a loss from one property and a gain on another. So if I had a client with two properties that they both had a a profit, then, you know, then I would that I probably wouldn’t make it, but let’s say 98% of the time, we’re, it’s part of our whole, it’s actually part of our internal control process when preparing tax shirts, like, does someone have multiple properties? Make sure you check yourself, make sure you look, make sure we made the rental grouping election.
Is this like a schedule or an addendum, like a schedule E that you applied to your tax return? Is that what this rental grouping election is?
Yes. Yeah. It’s just, it’s a, it’s a statement on your texture and that’ll be on like page 58 of your PDF or whatever, however many pages you have it doesn’t. So it would be nice. It’s a really, that’s a great point because I think there’s a few things that schedule, which is where we put our rental activity in general. I think it needs to be improved. The first one is if you want a single member, LLC, I think you should be, you should put that on your schedule. So it doesn’t confuse the IRS because if you want a single member, LLC, 1099 is, are going into that LLCs [inaudible] ID number and name, and there could be a matching issue with getting that onto your tax return. But that’s another episode, I guess the other thing is, I think you should check a box to say, I am a real estate professional. Like, Hey, is that for prepare? We will check a box in our software to say this person’s a real estate professional and allow these losses, but there’s nowhere on the tax term that says, I check this box that I’m a real estate professional. And that’s the same with this election. This election is not necessarily attached to each property or schedule it’s just attached to your tax return. So in practice, we check a box in our software to make sure it gets transmitted in IRS. Right.
Right, makes sense. Good stuff. Okay. So we talked about five tax elections that real estate investors should, or maybe must know about anything you want to close with in regards to these different elections and who really should be looking into them or any other comments.
Well, I would say it really comes down to your situation or tax planning and sometimes you know, if you have a pro you know, with that first election, we talked about it. I should have added that. If it’s a triple net lease, you’re not going to qualify. So sometimes we have clients that are, let’s say they own a commercial, a C Corp and are paying rent fair market value around of course, to themselves for a commercial building. If you want to take advantage of that 91, 99, deduction, it can’t be a triple net lease. You might want to restructure yourself so that you’re paying some, you know, taking advantage. I’ll just leave it there. And, but no, I mean, it’s a facts and circumstances thing, take a look at your tax return. If you feel like you’re, there’s some deductions that you’re not taking and, or you’re not using implementing a tax strategy, definitely talk to a CPA or tax professional about your your situation.
And one more thing, it’s not always the best move to take every deduction you can year one. There are times where it’s better to hold on to that,
Right. Yeah. Well, that’s where your tax professional comes in and figure out if it’s worth pushing those deductions into higher tax years for you. So you have a lower tax impact in those future years. And so that’s just a conversation that you have with your tax professional, good stuff, Chris. Well, I appreciate you taking the time, tell our listeners how they can find you and get more information about what you guys do.
Right. Well, again, thank you very much for having me on the show. If you would like, I’m happy to provide you with some initial initial call consultation guide you in the right direction. And you could put that inquiry at realestate.cpa.guru, realestate.cpa.guru, or we have a professional facebook page.
So you just go to facebook.com/yourrealestateCPA on the Facebook page. You don’t have to put any information. We have links to some really good resources, a whole education [inaudible] series, where we dive into all these subjects with quick videos that provide just a lot of great content.
Awesome, good stuff, Chris. Well, this has been very valuable information. I know it’s worth a lot because if you can lower your tax impact, that means more dollars in your pocket. So people have questions they can reach out to you. So again, Chris, thanks for taking the time.
My pleasure and have a great rest of the day. Thank you.
And for everybody listening, if you haven’t subscribed to the show, remember to click the subscribe button, be a regular listener, help us spread the word, visit us on iTunes and leave us a rating and review. I read those reviews and I really appreciate it. If you have a question about real estate investing in finance, just shoot those over to us and that’s it for today.
Thank you for listening. And we will all see you on our next episode.
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