In this episode we sit down with Dwight Dye from DWD Strategies as he delves into the world of high-income contractors that unknowingly sit on a goldmine of tax advantages.

With years of expertise in tax strategy, Dye unveils how contractors, engrossed in their day-to-day operations, possess the untapped potential to significantly reduce their tax burdens simply by leveraging their existing real estate activities.

Listeners will be guided through the intricate pathways of tax codes and strategies, uncovering how activities they're already engaged in could qualify them for substantial tax benefits.

Dye's pragmatic approach demystifies complex tax jargon, making it accessible and actionable for professionals beyond the tax realm.

This episode promises a wealth of knowledge, offering practical steps to harness the power of REPS and transform your tax liabilities into lucrative opportunities.

Join us as Dwight Dye shines a light on this hidden pathway to financial efficiency and growth, equipping you with the knowledge to elevate your financial strategy from mere compliance to proactive wealth building.

Get intouch with Dwight dwd.dwightdye.com

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In this episode, Karolis Matulis, a seasoned expert in real estate and taxation, delves into various intricate aspects of real estate investment and tax planning.

Matulis, holding key positions at WilkinGutenplan, including being a manager and chair of the Firm's Innovation Council, shares his extensive knowledge and experiences in the field.

The discussion primarily revolves around the dynamics of real estate investments, the implications of tax legislation, and the strategic management of real estate portfolios.

The episode covers a range of topics, including:

1. Real Estate Professional Status: Matulis discusses the real estate professional status and its relevance to different client bases, highlighting the importance of tailoring strategies to each client's unique situation.

2. Clientele Focus: The conversation shifts to the different types of clients Matulis works with, particularly focusing on those in the accumulation phase of their investment journey and those approaching the sunset of their investing life.

3. Tax Legislation and Its Impact: A significant portion of the discussion is dedicated to understanding the implications of various tax laws, such as the Qualified Opportunity Zone legislation introduced in the Tax Cuts and Jobs Act of 2017.

4. Real Estate Investment Strategies: Matulis emphasizes the importance of being in the driver's seat when managing a real estate portfolio, discussing how investors can plan the character of their income and make informed decisions based on the growth and expenses associated with their properties.

5. Tax Planning and Client Guidance: Throughout the episode, Matulis offers insights into how he guides his clients through the complexities of real estate investment and tax planning, ensuring they make the most out of every opportunity.

Enjoy the episode!!

Karolis Matulis

Manager at WilkinGuttenplan since 2013 and chair of the firm's Innovation Council, excels in real estate and partnership taxation, adept in handling complex transactions and §1031 exchanges. His proficiency in business valuation is crucial for litigation and estate/gift tax matters. Karolis stands out as a trusted business advisor, leveraging his deep knowledge in process automation and system integrations to enhance operational efficiencies. His focus on comprehensive business strategies and tax solutions enables him to adeptly navigate a range of business challenges, making him an invaluable asset to his clients.

Want to connect with Karolis?

Email: kmatulis@wgcpas.com.

Linkedin: https://www.linkedin.com/in/kmatulis/

Ever worry about getting audited by the IRS?

Want to know what it's like and how you can best be prepared?

In this fantastic episode we deep dive into the complex realm of Real Estate Professional Status audits

I spoke with Yisroel Jacobovitch, a former IRS agent.

Yisroel brings a unique perspective, having transitioned from an auditor at the IRS to a private practitioner, now assisting clients in navigating the intricacies of audits.

The Real Estate Professional Status is notorious for being a critical area that frequently undergoes intense scrutiny by the IRS.

Yisroel provides a comprehensive overview of the audit process, starting from how tax returns are selected for auditing.

In this episode we discuss

• Understanding REPS Audits: Insight into what triggers a Real Estate Professional Status audit and why it's a focal point for the IRS.
• Audit Process and Questionnaire: Insights into the step-by-step process of an IRS audit, including typical questions asked and the importance of the initial interview.
• Navigating Audit Challenges: Expert advice on how to interact with IRS agents during an audit and effectively present your case.
• Preventative Measures and Best Practices: Tips on proactive measures and best practices to minimize the risk of an audit and prepare in case one occurs.

Tune in if you want to claim the real estate professional status without having to worry about getting an audit.

Want to get in touch with Yisroel?

Email: YD@YDJCPA.com

Call: 732-426-1040.