Rent vs. Own: The Tax Implications That Could Save You Thousands скачать в хорошем качестве

Rent vs. Own: The Tax Implications That Could Save You Thousands

In this conversation, Elsie Wu and Benjamin Koala discuss the advantages of real estate as a means to build wealth, focusing on tax implications, appreciation, and the decision between renting and owning. They emphasize the importance of understanding the financial benefits of homeownership, including tax deductions and capital gains exclusions, while also considering individual circumstances that may make renting a more viable option. Takeaways • Real estate is a way to build wealth tax efficiently. • Homeownership offers significant tax incentives for wealth building, including property tax deductions (through SALT) and mortgage interest deductions (for interest on up to $750,000 of mortgage balance) • Capital gains from selling a primary residence can be tax-free up to $250,000 per individual or $500,000 per couple • Appreciation of property can lead to substantial returns on investment. • Compounding appreciation on real estate is tax-free until the property is sold. • Understanding the difference between compounding and simple interest is crucial. • It's better to start investing in real estate now rather than waiting for interest rates to drop. • Renting may be a better option for those who move frequently or for short periods. • A general rule is that if you plan to stay less than two years, renting is often smarter. Chapters 00:00 Understanding Homeownership and Tax Benefits 05:37 The Importance of Timing in Real Estate Investment 08:01 Renting vs. Owning: Making the Right Choice 08:55 Introduction to Real Estate Wealth Building 09:21 Real Estate Financing and Investment Strategies Benjamin Koala, Esq., CPA/PFS, CFP®, CLU® Financial Advisor Koala Financial, Inc. Email: ben@koala.cpa Phone: 619-475-5542 Web: https://www.koala.cpa 5012 Central Ave, Suite J, Bonita, CA 91902 Elsie Wu Mortgage Broker, CA DRE 01858559, NMLS 346242 Abundance 99, Inc., CA DRE 01864049, NMLS 346570 Email: elsie@abundance99.com Mobile: 510-468-4508 Web: https://www.abundance99.net To schedule a consultation: https://calendly.com/elsiewu/30min See what our clients say about Abundance @ https://www.abundance99.net/testimonials #firsttimehomebuyer #wealthbuilding #homeownership #mortgageinterest #mortgagebroker #cpaadvice #rentvsbuy #californiahousingmarket #househacking