Category: Taxes
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5 Ways To Defer Capital Gains Tax When Selling Real Estate
John Sculley once said, “Timing in life is everything.” And when it comes to investing, developing the best timing to finalize tax planning can determine how effective they’ll be. I love passively investing in commercial real estate. Especially real estate syndications. Depending on when a property is sold, it can generate huge profits along with…
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7 Top Real Estate Investing Tax Strategies
A wrist injury while snow skiing was the catalyst that eventually led me to real estate investing. This event showed me that I was relying only on my dental income to support my family. In order to mitigate risk, acquiring additional income streams from real estate seemed to be the way to go. But little…
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Bonus Depreciation is Phasing Out: Here’s What You Should Know
When I started a dental practice, I thought the goal was to have the highest production possible. At least that’s what all the “dental gurus” were telling us to focus on. That meant spending tens of thousands of marketing dollars annually to get patients in the chair. Next, we then had to provide top notch…
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Potential Changes To Real Estate Tax Loopholes Doctors Should Know
[Editor’s Note: Today’s article is a guest post from a friend of mine that wants to remain anonymous. He’s a doctor that teaches other doctors about all types of money matters at Wealthy Doc. ] As a real estate investor, the Wealthy Doc understands that one of the MOST important benefits for investing in the…
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5 Outstanding Tax Strategies For High Income Earners
Do you want to lower your income tax bill? Who doesn’t? But the more money you make, the higher taxes you have to pay, right? Well, maybe not. Why do the ultra-wealthy like Donald Trump and Warren Buffett pay so little in taxes as compared to their income? It’s because they know how to play…
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Capital Gains Tax 101 For High Income Earners
Pros and Cons Of Capital Gains Tax One of the most overlooked areas high-income professionals seem to miss when developing a financial plan involves TAXES. Why? Because taxes are NO fun (unless you’re a CPA) and who wants to focus on an expense, right? As a high income earner, your largest expense during your career…
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5 Smart Ways On How To Reduce Taxable Income For High Earners
Paying taxes is unavoidable, but there are numerous opportunities to help lower a tax bill. Recently, I came across a finance forum for doctors that piqued my interest. One of the most highly viewed posts was, “How To Reduce Taxable Income For High Earners.” Most high income earners that I know are constantly looking for…
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4 Simple Steps On How To Find a CPA
When I first got out in practice, I didn’t give much thought to paying taxes (or investing) as I was barely making ends meet. Between working out of multiple dental offices and mowing yards (yes, mowing yards!) tax returns were the least of my worries. After a few years of networking with other dentists and…