WBP – Multifamily Tax Benefits with Thomas Castelli, CPA
From an early age, Thomas Castelli had the entrepreneurial bug and a passion for business. Growing up he would buy and sell items on eBay, repair computers, and even go door to door washing cars, mowing lawns and cleaning yards. He graduated with a Bachelors in Business Management with a concentration in Accounting and runs therealestatecpa.com.
His first multifamily investment was as an LP through his mentor. He invested in several more properties as a passive investor before buying an 82-unit apartment community, as an active partner. Today he helps people build wealth, achieve financial freedom, and retire securely through his knowledge of real estate tax law and multifamily investing experience. He talks with us about the benefits of a CPA and what to look for in a good one. We discuss depreciation and the benefit of LLCs. Gino gives us an Atlas Shrugged update and Jake doesn’t like bananas.
College Experience
His Mentor
Getting Started
Leaving NY
State Income Tax
Property Taxes
Qualities of a good Tax Prep
Being Proactive
Specialization
Risks of Audit
The Grey Area
Questions to ask your CPA
Tax Strategies
Accounting Software
Tax Benefits of Real Estate
Real Estate Professional Status
Depreciation
Bonus Depreciation
Responsibility
Cost Segregation
Partnership Benefits
LLCs
Savings through kids
Atlas Shrugged
Making the Most of Opportunity
What’s the Solution?
Opportunity Funds
Capital Gains Tax
Itemize Everything
Never Split The Difference
Do The Work
Habits for Success
Bananas
Value Adds
Converting Units
RUBS
2019 Live Event, Orlando
Action Steps
Watch the full video interaction on: YouTube
Also Read: Tax Free Wealth By Tom Wheelwright [Podcast]
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