Episode 259: Shauna the Tax Goddess on Legally Avoiding Taxes

The REI Diamonds Show-Real Estate Investment Podcast

Episode 259: Shauna the Tax Goddess

Guest: Shauna the Tax Goddess, is a top-tier tax strategist with over 105 specialists under her wing, focusing on U.S. taxation. Shauna, a CPA with a Master's in Taxation, and is one of the few Certified Tax Strategists in the country. With her extensive knowledge and experience, Shauna shares invaluable insights on how real estate investors can optimize their tax strategies to keep more of their hard-earned money.
Big Idea: Shauna emphasizes the critical importance of tax efficiency in wealth accumulation, particularly for real estate investors. She explains how a specialized tax strategist, instead of a general CPA, can significantly reduce tax burdens through customized strategies tailored to an individual's unique circumstances, maximizing long-term financial gains.
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View the Episode Description & Transcript Here:
https://reidiamonds.com/shauna-the-tax-goddess-on-legally-avoiding-taxes/
Shauna & I Discuss Legally Avoiding Taxes:
• Understanding the Role of a Tax Strategist vs. a CPA (02:13): Shauna explains the difference between a standard CPA and a tax strategist, emphasizing the importance of specialized knowledge in minimizing tax burdens for real estate investors.

• Building a Comprehensive Financial Team for Real Estate Success (05:29) The discussion focuses on the need for a well-rounded financial team, including a tax strategist, CPA, bookkeeper, and other key professionals to optimize tax strategies in real estate.

• Advanced Real Estate Tax Planning (2.0 Strategies) (11:36): Exploration of more sophisticated tax strategies beyond basic deductions, such as the integration of cost segregation and other advanced techniques for real estate investors.

• The Security Dog Deduction(12:32): Exploring how real estate investors can write off dogs as a security expense for visiting properties.

• Maximizing the Masters Exemption (14:13): Utilizing the Masters Exemption to deduct personal vacations as part of real estate operations.

• Risk Management and IRS Scrutiny (25:08): The importance of maintaining documentation and understanding the risk of IRS audits when implementing advanced tax strategies.

• Entity Structuring for Tax Savings (37:10): Shauna discusses the pros and cons of different entity structures like S Corps, C Corps, and sole proprietorships for real estate investors.

• The Power of the Augusta Rule (00:42:03): A look at how the Augusta Rule can be used to write off significant amounts through home office deductions.