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Cash Flow AssetsAuthor: Blackwell Workshop Inc, Robert Slattery, Blackwell Real Estate LLC
How much money do you want to make each month to live the life you want to live? Join us each week as Robert Slattery shares the secrets to creating your financial freedom. Robert interviews others who are successfully living a cash flow abundant life outside of the daily grind of the rat race and also shares how you, too, can get out. If you are ready to learn from others, build your cash flow assets and get out of the rat race, this is the show for you. Language: en Genres: Business, Entrepreneurship, Investing Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Romeo Clarke: Ask the CPA
Episode 7
Friday, 29 October, 2021
In this episode, Robert and Romeo Clarke discuss:Escaping the rat race through active investment and tax reductionHow depreciation works and what’s cost-segregationAdvice for anyone facing an auditKey Takeaways:Be mindful of the numbers - know the cashflow you expect and calculate for depreciation. Real-estate property is made out of different pieces which all have different depreciation rates. Accelerate your depreciation over five years because when depreciation increases, the loss in your tax is increased also and you could use that to produce ordinary income. When facing an audit, talk to a professional who can negotiate the best outcome for you. Don’t talk to the IRS, they can use anything against you. If you don’t have experience on how they work, they’re going to look out for the IRS, not for you. "If you don’t have the documentation, you don’t have the deduction. Keep your receipts… in a nice folder, everything in a nice place." — Romeo Clarke Connect with Romeo Clarke:LinkedIn: https://www.linkedin.com/in/romeo-clarke-cpa-taxexpert/Website: http://www.agiletechaccounting.com/ Connect with Robert: Website: https://www.blackwellworkshop.comSeminar Registration: https://www.cashflowassets.comTwitter: @roberteslattery Facebook: https://facebook.com/groups/blackwellworkshopYouTube: https://www.youtube.com/channel/UCol1gk3ofVzsCeqYWPTnJWgLinkedIn: https://www.linkedin.com/in/roberteslattery/Instagram: https://www.instagram.com/therentalpropertywealthcoach/Book: Coming Soon! Email: podcast@cashflowassets.com
