How To Minimize Taxes And Maximize Profits In Multifamily Real Estate with Shauna Wekherlien, Ep 112

Looking to dive into real estate investing and level up your financial game? 

       In this episode, we talk with Shauna Wekherlien, aka "The Tax Goddess," a Certified Public Accountant (CPA) and founder of Tax Goddess Business Services. 

She shares powerful tax-saving strategies for real estate investors and entrepreneurs, focusing on boosting profits, reducing costs, and maximizing cash flow. Learn about hiring family members for tax benefits, separating operating businesses from ownership entities, and overlooking deductions that could save you thousands. 

Shauna's expert advice ensures you're making the most of your real estate investments while staying tax-efficient. Tune in to optimize your tax strategy and take control of your financial future!

Episode Topics

[01:09] Meet our guest, Shauna Wekherlien
[01:47] Shauna's Journey from Astrophysics to Taxation
[06:22] Understanding Tax Designations
[18:17]  Tailoring Tax Strategies to Individual Needs
[23:10]  Common Misconceptions About Tax Deductions
[30:10] Overlooked Tax Strategies for Real Estate Investors
[32:31] What is one red flag every investor should look out for?
[33:17] What is a myth about the real estate business?
[37:13] Connecting with Shauna

Notable Quotes

• "CPAs hate being asked if they do taxes because basically only about 10 percent of us actually do taxes." – Shauna Wekherlien
• "For real estate professional status, I can take deductions greater than just my investments, especially if I'm filing jointly with my wife who has a regular job." – Tim Little
• "For two years I was able to take advantage of real estate professional status because I was making most of my money from real estate." – Tim Little
• "In Canada, your taxes are a percentage of what you make. Period. There’s no strategy, there’s no planning." – Shauna Wekherlien
• "The IRS will split passive income and passive losses from active income and active losses. And those two things are kept very distinct buckets." – Shauna Wekherlien

👉Connect with  Shauna Wekherlien

• LinkedIn: Shauna Wekherlien
• Website: Tax Goddess
• Email: Shauna@TaxGoddess.com 
• Telephone:  602-357-3275

#RealEstateInvesting #MultifamilyInvestments #PrivateEquity #WealthBuilding #InvestingTips

👉 Connect with Tim

• Linkedin: Tim Little
• Instagram: @tim_at_zana
• Email: tim@zanainvestments.com
• Visit www.ZANAinvestments.com for more info on Tim and how you can passively invest in multifamily real estate
• Get your Passive Investor's Cheat Sheet FREE

Subscribe, Rate, and leave a review here 🌟
https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497