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In the concluding episode of our series with Keith Blackborg, we discuss the tax benefits that multifamily syndicators can enjoy from income-generating properties like apartments. He reveals a number of strategies that operators may use to legally shave dollars off their tax bill. Find out how you can maximize the services of your CPA or tax strategist and make your business more profitable. If you’re a syndicator who wants to take full advantage of your tax benefits from multifamily, click now; this is for you!
Key Points From This Episode:
- What’s one of the biggest bills you’re going to pay in your life according to Keith?
- What are the four principles of tax strategy?
- Keith talks about tax structures for multifamily syndicators that will help reduce self-employment tax.
- What are the seven levers and how can you utilize them to reduce your tax bill legally?
- Examples of tax benefits in the syndication business that you might not have known or heard of.
- Keith recommends contracting CPAs and tax strategists who are constantly learning and upgrading as you grow and upgrade your business.
- What is the true cost of a good CPA or tax strategist?
- How to find a good tax strategist and/or CPA.
- More tax strategies from Keith as he recommends syndication business owners to constantly educate themselves to maximize their tax benefits.
- Why business owners need to have regular tax planning meetings with their CPA and/or tax strategist at critical times of the year.
- Metrics that Keith tracks and habits that produced the highest return.
- The one thing that’s contributed to Keith’s success and his way of giving back.
- How Keith helps investors through the Wealth Builder Experience and how they can get in touch.
“Taxes are the biggest bill you’re going to pay in your life. Isn’t it worth spending a little bit of time figuring out how to reduce that?”
“As you grow and upgrade your business, you likely need to grow and upgrade your CPA.”
“The true cost of a CPA isn’t just their tax fees; it’s tax fees plus all the missed deductions you could have had if you would have a good tax strategist.”
“I’m focused on building the processes, not the projects.”
“If you don’t know where you’re going, any path will get you there.”
“When you find a good tax strategist, pay them whatever they’re asking for assuming it’s reasonable, and grow with them. But know when you need to upgrade to a larger firm or somebody who can truly know you and take care of your business.”
Links Mentioned in Today’s Episode:
About Keith Blackborg
Keith Blackborg, CPA, reached financial freedom within 10 years due to success as an investor and tax strategist. Keith and his wife Jessica have experience with domestic and international investments, including residential and commercial real estate, lending, startups, and paper assets. Keith served as the director of acquisitions for a hedge fund that transacted the largest private sale of homes in US history.
He used to own a CPA firm focused on high-net-worth real estate investors, including high-volume single-family investors and apartment syndicators. As a tax strategist, he showed clients how to legally save ~5-10% of their income in taxes each year. Keith and Jessica became millionaires before they were age thirty. Between 2016 and 2017, Keith and Jessica sold the CPA firm and most of their active investments. They transitioned to a board-level role in their wealth business overseeing high ROI passive investments. Keith and Jessica were able to retire comfortably through financial freedom in less than a decade of working.
Out of the desire to help more, Financial Journey was born. It is the manifestation of Keith’s and Jessica’s passion to help others enjoy freedom. Financial Journey connects clients to wealth by providing the framework, strategy, deals, and community to support and accelerate their journey to “work optional”.
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