Posts tagged "tax"

JC 092: Capital Gains Tax Solutions with Brett Swarts

June 10th, 2020 | no comments

Understanding the Deferred Sale Trust.

Brett Swarts is an entrepreneur, deferred sales trust expert, investor, podcaster, and multifamily broker. His leadership roles include serving as the Founder of Capital Gains Tax Solutions, Commercial Realty Apartment Advisors, and the Capital Gains Tax Solutions podcast.

Brett leads a team of extraordinary people at his companies. He serves ultra high net worth clients and enables them to create and preserve their wealth through real estate investment. Brett leads clients through a wealth preservation process by leveraging the optimal timing capital gains tax deferral structure known as The Deferred Sales Trust. Its purpose is to help individuals escape feeling hostage to the 1031 exchange and 30-50% capital gains tax when they sell their highly appreciated real estate assets.

By focusing on the timeless aspects of being the guide, Capital Gains Tax Solutions’ educational platform helps high net worth individuals and their trusted advisors who help them execute a passive/active capital gains tax deferral wealth plan of their own.

Brett Swarts joins John Carney today in The Real Estate Locker Room to advise us on how to create and protect your wealth.

Key Points:

  1. Clarify your vision of what you want your wealth plan to be.
  2. There are alternative ways for wealth transformation that doesn’t involve a 1031 exchange.
  3. Deferred Sale Trust: Transforming money from one generation to another while getting out debt by diversifying their wealth. It can allow you to get the full depreciation of the property allowing you to obtain and preserve more wealth.
  4. Optimal timing will let you sell high, wait, and then buy low when the market shifts. It’s important to know the legality and track record behind the “installment sale”.
  5. The key is getting a team of professionals that can help you execute the business plan.

Favorite Athlete:

  • Basketball

Favorite Athlete (s):

  • Michael Jordan
  • Lebron James

 Favorite Books:

Pro tip:

  • Practice The Miracle Morning: read the bible, meditate, exercise and journaling. 

Resources Mentioned:

 Reach Out to Brett Swarts

Thank you, Brett Swarts for taking the time to share your wealth planning solutions with the audience.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
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© John Carney 2020

 

 

 

JC 089: The 1031 Exchange with Dave Foster

April 29th, 2020 | no comments

The Real Estate Life You Want.

Dave Foster is a Qualified Intermediary (QI) investment professional that understands that real estate is really an investment in your future. As a multi-industry visionary, Dave has 20 years of experience working across all phases of real estate investing and facilitating 1031 Exchanges for investors.  From commercial to residential real estate, Dave brings his clients a fresh perspective and clear vision for strategic development. As an investor himself, he views each investment no matter the asset class as a unique opportunity for investors to maximize their returns.

Dave built his reputation on being a driven, results-oriented QI who works relentlessly to optimize value for the real estate investors with whom he works. He is inspired by a genuine desire to help real estate investors excel and Dave continuously strives to create win-win situations. Dave successfully worked toward the life he wanted and was able to do it by facilitating 1031 exchanges.

Dave Foster joins John Carney today in The Real Estate Locker Room to explain how to increase your wealth with 1031 exchanges.

Key Points:

  1. 1031 Exchange: In the statue of the IRS tax code, there are provisions that allow you to sell/purchase investment real estate, use a QI, and indefinitely defer paying tax on capital game. Investors may use that tax deferment to purchase more real estate and increase their wealth.
  2. Not limited to “buy and hold”. You may use the 1031 Exchange for any kind of real estate as long as it is for investment.
  3. 1031’s are not easy. Your QI is your investment guru.
  4. Timing requirements: You only have 45 days to identify a new property after the sale of the existing property. Your QI needs to be in place before the sale of the initial property.
  5. Advice to consider: Research your market. Focus on the big picture. Start early and be strategic. Ready, fire, aim does not work. Work with an expert.

Favorite Sport:

  • Basketball & Volleyball

Favorite Books:

Pro tip:

  • Follow your passion and follow it now.
  • Only do what your passion is and don’t do anything else. Otherwise, you are going to suck at it and burn out. 

Reach Out to Dave Foster

Thank you, Dave, for taking the time to explain the 1031 Exchanges and how they work with the audience.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2020

 

 

 

JC 075: Self Directed IRA Investing with Brian Eastman

September 18th, 2019 | no comments

Diversify and Multiply Your Options

Brian Eastman is a principal and Sr. Consultant at Safeguard Advisors, LLC based in Boulder, Colorado. He has personally worked with thousands of independent investors over the years and has a deep understanding of the tax framework that governs self-directed retirement plans as well as how to actually implement such plans successfully in a variety of real estate-related transactions.

Brian has been investing in real estate personally with his self-directed plan for 15 years and has participated in sub-division development, flipping properties, rentals, lease options, and trust deed financing of various types of property.

Brian Eastman joins John Carney today in The Real Estate Locker Room to talk about liberating your tax shelter retirement money for real estate investing.

Five Key Points:

  1. You have the option of using your retirement money to invest in real estate instead of the stock market.
  2. Real estate is a tangible, manageable and controllable for the investors and offers consistent cash flow to grow their retirement savings.
  3. You may enter into various real estate syndications (i.e. crowdfunds) due to the regulations becoming more relaxed.
  4. The real estate markets are favorable to multifamily and commercial real estate due to increasing demand and opportunities.
  5. Daily habits that keep you focused as a real estate investor include regular exercise and maintaining a work life balance.

Favorite Sports:

  • Fencing

Favorite Athlete:

  • Magic Johnson

Pro tip:

  • Be mindful, take the time, rely on true expertise, think things through, and develop a business plan.

Reach Out to Brian Eastman:

Thank you Brian Eastman for taking the time to talk IRA investing with the audience.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2019

 

 

JC 057: Know Your Tax Advantages with Craig Cody

December 20th, 2018 | no comments

Always Hire an Accountant First

Always Hire an Accountant FirstCraig Cody is a CPA and the President and Founder of Craig Cody & Company Inc., a tax service company that help business clients with tax planning as well as off site CFO services. His practice is deeply rooted in tax planning specifically in finding ways to legally reduce client’s tax liabilities and let them keep more of what they earn. His excellence in the field has earned him the title of Certified Tax Coach, a select group of practitioners who undergo extensive training and continued tax planning education and strategies.

Craig Cody joins John Carney in the Real Estate Locker Room today to share all of the good financial reasons why hiring a great accountant (CPA) will give your company earnings a boost. He dispels the myth about how the fees for accountants are too high for the extra income you get. Craig provides the important questions that you have to ask your accountant and why. Learn why constant communication is a priority, not just with your accountant, but with your entire team in regards to tax planning. You won’t want to miss Craig’s “ten most expensive mistakes” that cost business owners thousands.

Five Key Points:

  1. People tend to look at their accountant as an expense item. When used correctly, accountants will be an income item.
  2. Your accountant should be saving you more money than what you are paying them in fees.
  3. Accountants should be the first people you hire for your business.
  4. If you are not going to document you are looking for trouble.
  5. Always look to make friends. Give people a reason to like you.

 

Favorite Athletes:

Favorite Sports:

  • Training and exercise

Favorite Books:

Traction: Get a Grip on Your Business by Gino Wickman

Pro tip:

  • Marketing and prospecting is like breathing. If you stop, you die.

Reach Out to Craig Cody:

Thank you Craig for taking the time to share your thoughts on why accountants are a key player for your business.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at http://www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018