The Real Estate CPA with Thomas Castelli

<p>Thomas Castelli has his area of focus in Tax Planning Real Estate, and he owns an 82-unit apartment building. He got his education in BS in Accounting at Farmingdale State College. He is a CPA and a Certified Real Estate Financial Modeler. He previously worked with BDO.</p> <p>In this episode, Thomas lets you understand why at the onset of your real estate investing journey it’s best to set up your accounting system and get help from a service company like his to deal with the nuances of the tax side of the business so you minimize your tax liabilities.</p> <p>Checkout: Raising Capital Without Rejection Full-Day Workshop (Online):<a href='https://investorattractionworkshop.com/'> https://investorattractionworkshop.com/</a></p> <p>What you'll learn in just 17 minutes from today's episode: </p> <ul><li>Learn about what you should set up in a place as you start out in your real estate investing to avoid overpaying taxes</li> <li>Find out a resource where people just starting out can get foundational knowledge and strategies for minimizing tax liability for a low cost</li> <li>Learn about some mistakes investors make in their real estate investing business so you won’t miss out on anything that will help lower your tax liability</li> </ul> <p>Resources/Links: </p> <ul><li>Exclusive access to reliable tax advice that will save you thousands in taxes, click here: <a href='https://taxsmartinvestors.com/'>https://taxsmartinvestors.com/</a> </li> </ul> <p>Topics Covered: </p> <ul><li>00:45 - Backstory of how his Real Estate CPA business came to be</li> <li>02:47 - Accountants but also active investors</li> <li>03:26 - People are missing out when they newly start</li> <li>04:54 - Accounting software you can easily set up</li> <li>05:53 - Where else are investors messing up with their taxes</li> <li>07:05 - Differentiating an S corporation from a C Corporation</li> <li>09:43 - Which investors do they work best with</li> <li>11:08 - Other services they provide to lessen your tax liabil