Save on Taxes with Passive Income & Investment Conference Takeaways
Posted by David Kafka on 11/04/2021 10:24 AM
As we approach a new month, we have lots of exciting things happening. I want to dive into how to give yourself a raise with taxes and my takeaways from the New Orleans Investment Conference.
End of Year Taxes
Do you know what time it is?
It is that time of year again, and I’m not talking about the holidays……I'm talking about the dreaded end of the year.
You have just a few more weeks to plan out the end of year to mitigate taxes. If you could take W-2 income to buy an investment, let's say $100,000.00, and in the first year you could save like $80,000.00 off of your taxes. So if you owed Uncle Sam $50,000.00 in taxes or paid $50,000 in taxes, you would now have a credit to the IRS of $30k to carry over to next year. That is not taking into account the cash flow from that investment.
That is a raise and money in your pocket.
Did you know there are investment vehicles you can use to deprecate actual tax rebates for you to reduce your taxes, whether passive or W-2 income?
That is money in your pocket. If you are self-employed and pay quarterly taxes, then you can get a refund. If you are a W-2 employee then you reduce your taxable income and get a rebate.
These investment vehicles are like CO2 scrubbers, investing in oil and gas exploration, wells, etc. If you invest in apartment buildings in a group investment or in your own portfolio, you can also take advantage of bonus depreciation.
I am not a CPA, but I’m constantly learning and staying up-to-date to offer you all the latest knowledge. What I discovered is simple:If you want to change your taxes, you need to change your facts.
Yes, if you purchased a property in Belize or invest in gas and oil, you can reduce your taxable income. Real estate has different types of deductions than oil and gas.
Stay tuned for more tax savings emails and offers coming in the next few weeks!
New Orleans Investment Conference
I just got back from The New Orleans Investment Conference,the longest running investment conference in the U.S. It was amazing talking about oil, gold, silver, crypto, real estate, China, the Federal Reserve, inflation and more with very, very smart people like: Dr. Ron Paul, James Grant, Peter Schiff, James Rickards, George Gammon, The Real Estate Guys, and many others.
While I was there, I had the privilege to help at The Real Estate Fund Alliance booth. This Alliance is a one-stop shop for fund managers. We visited with people who are looking to invest passively in a deal. They visited the website and filled out the investor questionnaires.Then when a deal comes up that interests them, the fund manager for that particular deal will reach out.
I was not there to sell anything but more for education purposes, and most of what I talked about is my LOVE for Belize, living there, real estate and talking to people who have been and what they liked about visiting Belize. I raffled off a nice Belizean gift basket from Meliza’s Art and Soul, which included a Zerkote bowl, belizean chocolate, handmade 100% natural soap made by Meliza, 5 Barrel Rum and 1 Barrel Rum, and a small Mayan Calendar. Of course no gift basket is complete without Marie Sharp's hot sauce. It was a hit! We had like 8 prizes that we raffled off every day of the conference. The Belize items were among the first to go.
It’s always nice to travel and meet such intelligent and driven people, and I love talking about Belize of course, but it also feels so great to be home!
I look forward to sharing more details on my big takeaways from the conference in upcoming articles, including how to purchase a free rental or resort property in Belize.