47 min
Mark Myers - The Top 3 Tax Strategies That Your CPA Doesn't Know About 5 Talents Podcast - How To Build Wealth Through Real Estate
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- Investing
Do you dread tax season? Feel like you're leaving money on the table when that tax bill arrives? In this episode, Abel Pacheco sits down with Mark Myers, founder of Peak Profit Solutions and self-described "tax savings architect." If you're eager to gain insider knowledge on how the top 1% navigates the complex tax code, don't miss this conversation. You'll come away with actionable steps to legally minimize taxes and avoid overpaying Uncle Sam. The savings could be life changing. It’s time to get strategic and unleash the full potential of what Mark calls "the profit center hiding in your tax return."
[00:00 - 15:59] - Opening Segment
Mark introduces himself as a tax savings architectOutlines his role in reducing taxes legally without replacing CPAsDiscusses ideal clients like high income W2 earners and business ownersMore income provides more opportunities for tax savings[15:60 - 30:45] - The Importance of Being Strategic With Taxes
For business owners selling assets, do pre-sale planningShift income assignment to more tax efficient entitiesAllows for continuing tax deferral compared to owing at sale[30:45 - 32:51] - Tax Savings “Coupon #1”
Use the "Augusta rule" to rent primary residence to your businessCreates up to $40k in tax-free rental income each year[32:51 - 37:35] - Tax Savings “Coupon #2”
Donate appreciated assets to charity to get a larger deductionDeduction can be 4x your cost basis in the donated assetLimited to 30% of AGI for these types of donations[37:35 - 41:34] - Tax Savings “Coupon #3"
Invest in solar projects to get 50-60% tax creditsPlus accelerated depreciation and cash flow from energy paymentsOverall can get back more than invested in tax savings[41:35 - 47:47] - Final Thoughts
Emphasizes being proactive, not reactive with tax planningHave a consultation on strategies for future years
Key Quote:
"My goal is always to reduce my client's taxes by at least 25%, but sometimes I can reduce it by as much as 80%." - Mark Myers
Connect with Mark through his Website!
Connect with me:
www.5talents.capital
LinkedIn
Instagram
Watch 5T CRE on YouTube
Leave us a review and receive your free ebook
Email us --> abel@5tcre.com
5 TALENTS CAPITAL | ABEL PACHECO
If you are ready to start your investment journey with 5 Talents Capital, here are the next steps you should take:
View our informational video and case study at https://5talents.capital/grow-your-wealth/After viewing the video follow the prompts which will lead you to a scheduling link to meet one on one with Abel Pacheco. Register for our investor portal here investor portal once registered you will be able to review some of our past deals and you will receive alerts for upcoming investment opportunities.I Help People Build Wealth And 10X THEIR MONEY By Establishing Multiple Income Streams Through Multi-Family Real Estate Investments.
Our blueprint to financial freedom is streamlined so you can get going in multifamily commercial real estate investments fast.
Support the show
Do you dread tax season? Feel like you're leaving money on the table when that tax bill arrives? In this episode, Abel Pacheco sits down with Mark Myers, founder of Peak Profit Solutions and self-described "tax savings architect." If you're eager to gain insider knowledge on how the top 1% navigates the complex tax code, don't miss this conversation. You'll come away with actionable steps to legally minimize taxes and avoid overpaying Uncle Sam. The savings could be life changing. It’s time to get strategic and unleash the full potential of what Mark calls "the profit center hiding in your tax return."
[00:00 - 15:59] - Opening Segment
Mark introduces himself as a tax savings architectOutlines his role in reducing taxes legally without replacing CPAsDiscusses ideal clients like high income W2 earners and business ownersMore income provides more opportunities for tax savings[15:60 - 30:45] - The Importance of Being Strategic With Taxes
For business owners selling assets, do pre-sale planningShift income assignment to more tax efficient entitiesAllows for continuing tax deferral compared to owing at sale[30:45 - 32:51] - Tax Savings “Coupon #1”
Use the "Augusta rule" to rent primary residence to your businessCreates up to $40k in tax-free rental income each year[32:51 - 37:35] - Tax Savings “Coupon #2”
Donate appreciated assets to charity to get a larger deductionDeduction can be 4x your cost basis in the donated assetLimited to 30% of AGI for these types of donations[37:35 - 41:34] - Tax Savings “Coupon #3"
Invest in solar projects to get 50-60% tax creditsPlus accelerated depreciation and cash flow from energy paymentsOverall can get back more than invested in tax savings[41:35 - 47:47] - Final Thoughts
Emphasizes being proactive, not reactive with tax planningHave a consultation on strategies for future years
Key Quote:
"My goal is always to reduce my client's taxes by at least 25%, but sometimes I can reduce it by as much as 80%." - Mark Myers
Connect with Mark through his Website!
Connect with me:
www.5talents.capital
LinkedIn
Instagram
Watch 5T CRE on YouTube
Leave us a review and receive your free ebook
Email us --> abel@5tcre.com
5 TALENTS CAPITAL | ABEL PACHECO
If you are ready to start your investment journey with 5 Talents Capital, here are the next steps you should take:
View our informational video and case study at https://5talents.capital/grow-your-wealth/After viewing the video follow the prompts which will lead you to a scheduling link to meet one on one with Abel Pacheco. Register for our investor portal here investor portal once registered you will be able to review some of our past deals and you will receive alerts for upcoming investment opportunities.I Help People Build Wealth And 10X THEIR MONEY By Establishing Multiple Income Streams Through Multi-Family Real Estate Investments.
Our blueprint to financial freedom is streamlined so you can get going in multifamily commercial real estate investments fast.
Support the show
47 min