EP128: Tax-Saving Secrets from a Real Estate Guru - Thomas Castelli
In today’s episode with Thomas Castelli, we’re going to uncover the complex criteria that define a real estate professional and discuss the rigorous "hours test" that separates the dedicated from the casual. We'll explore the IRS’s design to protect passive activity rules, the surprises in tax document deadlines for real estate syndication, and why tax planning requires a proactive and forward-thinking approach.
In this episode, you will learn
- Importance of substantiating real estate professional status against audits
- Difference between tax preparation and tax planning
- Mechanism to qualify as a real estate professional
- why categorizing your income sources is crucial to optimizing your tax benefits.
Resources/Links Mentioned In This Episode
About Thomas
Thomas Castelli, CPA, is an award-winning Tax Strategist and real estate investor who helps other real estate investors keep more of their hard-earned dollars in their pockets and out of the governments.
Connect with Thomas (if mentioned in the final edited video)
- Website: https://www.thomascastelli.com/links
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