038 - Unlocking Real Estate Tax Strategies With CJ Tarantino, CPA

In this episode of the Frankie D'Astoli Show, host Frankie D'Astoli interviews CJ Tarantino, a seasoned CPA specializing in real estate tax strategies. They discuss the importance of asset protection, tax planning, and various strategies such as depreciation, cost segregation, and 1031 exchanges. CJ emphasizes the need for real estate investors to be proactive in their tax planning and the value of having a knowledgeable tax advisor. The conversation also covers the differences between LLCs and S-Corps, how to pay yourself as an investor, and the implications of cash-out refinances. The episode concludes with insights on audits and the importance of documentation in tax matters.Chapters00:00 Introduction to Real Estate Tax Strategies02:53 Understanding Real Estate Professional Status05:46 The Role of Depreciation in Real Estate08:53 Navigating Capital Improvements vs. Expenses12:05 Cost Segregation: Accelerating Depreciation Benefits14:55 Leveraging Cost Segregation for Tax Efficiency18:04 Asset Protection and S-Corp Tax Strategies22:14 Understanding Income Structures in Real Estate23:57 Tax Strategies for Real Estate Investors25:56 Leveraging 1031 Exchanges for Tax Benefits29:24 Navigating Capital Gains and Tax Planning30:04 The Importance of Tax Advisors vs. Preparers32:18 Cash Out Refinances: A Tax Efficient Strategy35:54 The Benefits of Filing Extensions38:06 Understanding Audits and How to Prepare40:16 Finding the Right Tax Advisor