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Ep. 27 2022 Tax Saving Tips & Entity Selection for Real Estate Professionals [Video]

Ep. 27 2022 Tax Saving Tips & Entity Selection for Real Estate Professionals

What can you do to save taxes in 2022 as a real estate professional or investor? For our January Bay Area Housing Market Townhall, we invited Diana Chan, CPA to share #TaxAdvice and #EntitySelection tips for #RealEstateProfessionals and investors. Watch this video recording to learn some tips to save your taxes!

What other topics would you like to see in our webinar series? Comment below to let us know!

Looking for Jan. 2022 Housing Market Updates? Watch video here: https://youtu.be/yhO7i-B54a4

Join our monthly webinar live! Register here: https://www.haylengroup.com/townhall/

📖 ORDER Helen Chong’s new book – Power to Change Lives now at http://bit.ly/power-to-change-lives

📲Register for future webinars: www.HAYLENGroup.com/TownHall

📣 Host
Helen Chong, CCIM – Founder of HAYLEN Real Estate Investments
📣Guest
Diana Chan – CEO and President at Chan CPA & Company, Inc.

About Diana Chan:
Diana has over 25 years of experience ranges from auditing with Deloitte, tax with KPMG to ERP implementation at Quantum Corporation prior to forming her own firm and has recently become an AICPA Certified Information Technology Professional. Diana’s philosophy is to apply integrity, objectivity, professional excellence, and hard work in delivering the highest quality of services to our clients. Diana is a member of the AICPA. California Society of Certified Public Accountants and Quickbooks Professional Advisors Program. Diana is also featured as a success story in the book “The Ultimate Guide to Getting the Career You Want”, has been written up in the Forbes.com article, “ROI That’s off the Charts:…”, has been a financial speaker at local Morgan Stanley seminars, as well as a past speaker at a series of Microsoft seminars called “Build Your Business Tour”.

💡Table of Contents | Q&A
0:00 Introduction
1:19 Diana Chan’s Presentation
22:40 Can you discuss: Best business structure for a real estate independent contractor (e.g. C Corp)? Also, can we deduct health or golf club memberships as a business development expense? Best Quickbook program for whatever structure I have (e.g. Self Employment platform or “Quickbooks Essentials”)?
28:11 Is it possible for LLC to be taxed as S corp?
34:17 I’ve been lending money secured by real estate. Do I need to send Form 1098 by January 31, 2022 to the borrower for the interest paid to me during the past tax year?
34:41 What are the other tax implications besides capital gains I should be aware of when selling? How to claim partial exclusion capital gain?
36:27 Is there a capital gain tax calculator available to use?
37:35 I just started my own LLC at the beginning of Dec. 2021 doing real estate transaction coordination, I’d like to know what taxes I should expect to pay and how to save as much as possible.

👩🏻‍💼🧑‍💼👨🏼‍💼Calling for experts to be on our webinar: Economists, Lenders, 1031 Exchanger, Property Managers, Professional Investors, Attorneys.

‼️ During this weekly 1 hour Q&A session, we will be answering questions from our community regarding our Bay Area housing market. IF this is of value to you, we will hold this monthly and bring other real estate professionals including Lenders, Attorneys, Property Manager, 1031 exchangers…etc to answer all of your questions!

📲📩
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