The Insider's Guide to Real Estate Investing Loopholes [Paperback]

Diane Kennedy (Author), Dolf de Roos (Author)

Book Description

Publication Date: March 2005

Increase Your Profits and Lower Your Tax Bill with Tax Loopholes for Every Investor

The Insider's Guide to Real Estate Investing Loopholes reveals all the best and most effective tax loopholes that successful real estate investors use to maximize their profits. Completely updated with over fifty percent new material, this Revised Edition also covers all the new tax laws, and features new and updated case studies and examples.

Real estate is probably the best investment money can buy, in part because there are so many profit-maximizing tax loopholes that directly benefit real estate investors. In this practical and straightforward real estate classic, bestselling authors Kennedy and de Roos show investors how to increase their investment profits and use real estate as a legal tax shelter. Inside, you'll find practical guidance and trustworthy advice on:
* Tax loopholes that turn your home into a profit center
* Tricks for using your vacation home as a tax-savings investment
* Real estate investment strategies for taking advantage of international tax laws
* Creative cash flow techniques for increasing your investment's profitability
* How to cut taxes through the 1031 tax-free exchange, pension funds, real estate loss deductions, homestead exemptions, and joint tenancies
* Real estate pitfalls and how to avoid them
* And much more

Editorial Reviews

Review

"The Insider's Guide to Real Estate Investing Loopholes," is packed with tips on maximizing your wealth by utilizing tax and legal loopholes.
The authors' basic premise is that wealthy real-estate investors exploit tax loopholes, but so can you.
For instance, the authors break down the status of being a real-estate dealer, developer or investor, and offer advice on forming a company versus a LLC.
At the end of each chapter, Q & A's help readers determine how best to manage their money and property. Be warned, though: light reading this isn't. This book is packed with technical jargon, and it will appeal only to those serious about complex tax and legal issues. (The New York Post, March 19, 2005)

From the Back Cover

Increase Your Profits and Lower Your Tax Bill with Tax Loopholes for Every Investor

The Insider's Guide to Real Estate Investing Loopholes reveals all the best and most effective tax loopholes that successful real estate investors use to maximize their profits. Completely updated with over fifty percent new material, this Revised Edition also covers all the new tax laws, and features new and updated case studies and examples.

Real estate is probably the best investment money can buy, in part because there are so many profit-maximizing tax loopholes that directly benefit real estate investors. In this practical and straightforward real estate classic, bestselling authors Kennedy and de Roos show investors how to increase their investment profits and use real estate as a legal tax shelter. Inside, you'll find practical guidance and trustworthy advice on:

• Tax loopholes that turn your home into a profit center
• Tricks for using your vacation home as a tax-savings investment
• Real estate investment strategies for taking advantage of international tax laws
• Creative cash flow techniques for increasing your investment's profitability
• How to cut taxes through the 1031 tax-free exchange, pension funds, real estate loss deductions, homestead exemptions, and joint tenancies
• Real estate pitfalls and how to avoid them
• And much more

See all Editorial Reviews

Product Details

• Paperback: 240 pages
• Publisher: Wiley; Revised Edition edition (March 2005)
• Language: English
• ISBN-10: 0471711799
• ISBN-13: 978-0471711797
• Product Dimensions: 9 x 6.1 x 0.6 inches
• Shipping Weight: 10.4 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #64,503 in Books (See Top 100 in Books)
  • #62 in Books > Business & Investing > Real Estate > Investments

More About the Author

Diane Kennedy is a CPA, Tax Strategist, Business Owner, Investor and most importantly an Educator. As the author and co-author of 8 books, she discloses the wealth-building, tax-saving strategies that her rich clients use.

She is a past recipient of the Blue Chip Enterprise Award for the small business showing the most entrepreneurial spirit in Nevada, has been invited to the White House for round tables on small business financial issues and provided guidance to one of the first joint ventures from the People's Republic of China. Her testimony was included as part of the guidelines still in force in Beijing for government approved joint ventures.

She and her husband Richard divide their time between Reno, Nevada and their beach-front home in Baja California. She actively supports a number of charities with money and volunteer time including a dog rescue for street dogs in Mexico and several Mexican orphanages. She loves to garden, cook, fish and drink good anejo tequila.

You can find Diane and daily tax tips at http://www.USTaxAid.com and http://www.DianeKennedyCPA.com

Customer Reviews

Most Helpful Customer Reviews

14 of 17 people found the following review helpful:

5.0 out of 5 stars Great source for Real Estate Information, July 29, 2005

By 

Anna Dell "Anna" (Phoenix) - See all my reviews

This review is from: The Insider's Guide to Real Estate Investing Loopholes (Paperback)

I really liked the chapter, Smart Business Structures That Reduce Risk and Tax. Now I think I better understand the differences between the possible structures and will be able to ask better questions when I am ready to start investing. Also, I like that this book has practical information and is not just trying to dazzle me with get rich quick nonsense. I would recommend this book to anyone who is interested in real estate.

11 of 13 people found the following review helpful:

5.0 out of 5 stars Finding more tax loopholes, August 18, 2005

By 

Beverly Adams (Phoenix, AZ USA) - See all my reviews
(REAL NAME)   

This review is from: The Insider's Guide to Real Estate Investing Loopholes (Paperback)

I thought "Real Estate Investing Loopholes" was put together really well. It has a lot of information that will help you find the tax loopholes that will help you best. My favorite Chapter was "Be Paid to Live in Your Home", by having a home office I have been able to write off more expenses and pay less tax. It works. I highly recommend this book. Thanks Diane and Dolf.

16 of 20 people found the following review helpful:

4.0 out of 5 stars better math needed from an accountant, July 1, 2005

By 

Charles I. Hughes (Louisville, Co. United States) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: The Insider's Guide to Real Estate Investing Loopholes (Paperback)

Page 202 says that 48 plus 15 equals 73.

I have heard at least one other teaching tax accountant say that depreciation not taken will not necessarily be recaptured by the IRS upon sale of the property, in contradiction of Diane's claim.
I liked the fact that she talks about paying by check. I also liked the fact that she admits there could be tenant resentment when they decide to forfeit non-refundable option consideration
for whatever reason, and accordingly offers them some recoupment opportunity. Diane sticks with Robert Kiyosaki's definition of an asset- if a house appreciates $100k and cash flows 10K negative it is a liability. That surprised me. Most accountants would say the house is the asset and the encumbering loan is the liability.
Other than those quibbles, the book is good.