Proper tax planning and strategy are key to keeping the wealth that one builds with real estate investing.
In this episode of Real Wealth, Real Health, we turn our eyes to the ever-important topics of taxation and retirement planning, as we welcome Paul Sundin of Sundin & Fish PLC. Paul is a CPA who specializes in tax & retirement planning. During this in-depth discussion, we dive into the world of taxes, specifically as it relates to how real estate investors should envision tax planning & preparation, how different investment types will affect their tax liability, and the types of retirement accounts that maximize tax savings, regardless of your stage in financial growth & development.
Our thorough conversation delves into the various advantages and disadvantages of investing in real estate, covering the mechanics of tax deductions: from investment income, the different structures your real estate investment can take on (and their pros & cons), and the most important things to consider when investing in multiple properties each year. We also dedicate some time to the merits of Defined Benefit Plans in retirement planning, as this retirement vehicle is not well known, but can be a significant boon to wealthy investors who want to increase their yearly retirement contributions, beyond the limits of a 401K or IRA. Finally, we address some more contemporary issues, such as how cryptocurrency can factor into your retirement & tax planning, and the risks involved in doing so.
Key Insights:
· The tax implications of real estate investing, especially through different investment vehicles, and in multiple states
· How investing in real estate through syndications can provide significant benefits in the form of depreciation
· The difference between debt and equity investing, especially from an investor’s perspective
· Preparing to maximize tax efficiency in the current political environment
· The benefits and risk factors associated with establishing a Defined Benefit Plan for retirement, and how investors can open one up for themselves
· What should be contributed to a Defined Benefit Plan vs. a 401K
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Guest Bio:
Paul Sundin is a CPA and tax strategist. He is a partner at Sundin & Fish, PLC in Chandler, Arizona and owner of Emparion, a retirement structuring firm.
With a worldwide client base, he specializes in tax planning and retirement structuring for business owners and entrepreneurs. In addition to being a CPA, he is also an author, speaker and consultant. His professional mission is to educate taxpayers on tax policy, personal finance and retirement planning.
With 20+ years of experience, Paul provides a comprehensive and personal approach that is different than most CPAs. His approach starts with educating his clients on effective and practical ways of reducing their tax liability and achieving their financial goals. He brings a depth of insight and personal engagement to his client services.
Resources:
Real Wealth Real Health
Alpha Investing
podcast@alphai.com
https://www.sundincpa.com/
https://www.emparion.com/about-us/
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