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Tax Smart Real Estate Investors Podcast
345. Estate Planning for Real Estate Investors (Trusts vs. Wills) with Attorney Diana Khan
00:31:01
Estate planning is one of the most overlooked par…
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- [00:00]
Host 1 (Tom)
You're now listening to the Tax Smart REI Podcast, the number one tax podcast for real estate investors.
- [00:06]
Host 2 (CPA Team Member)
Your source for all things real estate, accounting and tax. Here we reveal our secrets that can save you thousands in taxes, streamline your accounting process, and help grow your business. Stay tuned to hear insightful interviews with industry experts, successful real estate investors, and current clients on what strategies they use to grow their business and how they steer clear of Uncle Sam.
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Host 1 (Tom)
Hey everyone, thanks for tuning into this.
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Host 3 (Co-host)
Week'S episode of the Taxpayer Podcast.
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Host 1 (Tom)
Today we're joined with Diana G. Khan.
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Host 3 (Co-host)
A dynamic attorney, real estate broker and community leader based in Maryland who has a passion for helping others drive success in every endeavor. As founder of DK Law Group, Diana brings over 15 years of experience in her practice specializing in estate planning, real estate and business law. Her mission is simple. Empower individuals and families with the knowledge and tools they need to protect their assets and secure their futures. And we're going to be diving into all that good stuff and more in just one minute.
- [01:03]
Host 1 (Tom)
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Host 3 (Co-host)
Diana, thank you so much for joining us today. Before we kind of jump into estate planning and all that good stuff, would you be able to share just a bit about your background, how you came to work with real estate investors?
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Diana G. Khan
Absolutely. First, thank you so much for having me. Tom, I'm not going to out you a little bit, but I might have put a gun to your head to have me on this podcast. Guys, if you're trying to get on the podcast put a gun to his head. It works really easy, right? And then I harassed you quite a lot. So. So I'm super excited to be here. I'm actually a longtime listener. First time caller. Is that what they say? So my name's Diana, I'm an attorney, but outside of that, I actually vertically integrate on multiple businesses. So outside of being an attorney, that does what I call investor friendly law. I also own a real estate brokerage, a title company. I also own a property management company, construction company, I have about a hundred rentals myself as well as I do mentorship for first time investors. So everything from novations to fix and flips, we do kind of all of it and we vertically integrated across the board to provide services really on a nationwide and a local basis here in Maryland on how to help investors invest in themselves and properties. So I'm excited to be here, excited to chat investments.
- [03:04]
Host 3 (Co-host)
Thank you so much for joining us again. And we've kind of just jump in with the estate planning. We could unpack from there. So, you know, a lot of investors start to consider estate planning as they start to accumulate a lot more assets. Maybe they're having children, Things like that are inflection points, maybe where people start looking to estate planning. But like at a high level, what is estate planning and why is it important, especially for real estate investors?
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Diana G. Khan
So, you know, when I was growing up, I always used to think that estate planning really was just, you know, what's going to happen when you pass away. But estate planning is another, at least in my opinion, way to control wealth and protect wealth all at the same time. It's as important as doing any sort of strategic investments or looking at working with your cpa. And really the way I kind of explain it is I use a backpack example, which sounds really silly, but I'm going to work through it. And if you listen to it, it's going to kind of make sense, is you're born with a backpack and it really doesn't have much in it. And then as you grow, you start putting things that have monetary value inside that bag. For me, it was like multiple rental properties. Obviously my home, my bank accounts, all of that stuff. If you don't have the proper LLC structure or estate planning in place, what essentially happens is every time you purchase a real estate property, you're throwing a water bottle inside that bag. And as lawyers, when we try to sue or you get any sort of liability, the idea really is that I'm taking a knife and I'm just shaking your bag. Up as hard as I can, and I take a knife and I kind of stab in there. If I get to get that water bottle sort of broken, then what happens is everything you own inside that bag is going to get water all over it. The purpose of estate planning is sort of to figure out how to separate your investments from things that you're growing for your family and how to protect that property so that if you do end up in a liability threshold, water is not spilling everywhere and you don't have any protections in place. And that's kind of my job is to figure out how do we do it, and that's with trusts or LLC setups or anything in between. And if you're walking around with this backpack, essentially, that's where we hear about corporate barriers and we hear about liability, and they're going to come after me personally. So the idea of estate planning is sort of how do I structure the bag so it's got compartments or little pockets, and how do I make sure that those pockets have the right instructions? And that's really all estate planning really is.
- [05:16]
Host 3 (Co-host)
That's a good answer. And I know there's plenty of different tools to do that. I'm sure we'll unpack that as we go here. But, you know, if I'm a listener of this show right now, I'm tuning in. When should I start seriously thinking about this? Like, at what inflection point, you know, or when's the right time to begin estate planning?
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Diana G. Khan
I think everybody, you know, I always tell people that, really my client is anybody above the age of 18. Right. Is if you're going to do a basic estate planning, you're not even into investing, you should have, at the very minimum, what's called a will and a power of attorney, because you may not have a plan on what happens if something happens to you. And quite frankly, I think we grew up in this mindset that we're all going to die in our sleep in our 90s, but that's simply not the case. And if you don't have the very simple estate plan of just doing a will and just general instructions, even at the age of 18, that can really hurt you. And people are like, how is that possible? Well, if you're 18 and you go away to college and let's say you get in a car accident and you don't have your general documents in order, something happens to you, you end up in the hospital, incapacitated, your parents, who you just moved out of their house like five weeks ago, cannot get information from the hospital any longer because you are considered an adult. And if you don't have the proper documents in place, all of a sudden, the cost of that is exorbitant for your parents to just get access to. And that's at the age of 18. So I always tell people, start early, start often, check in, and, you know, don't wait until you have such a big backpack that then you're calling me and I'm charging an arm and a leg just to clean you up. For lack of a better way to.
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Host 4 (Co-host/Interviewer)
Say it, is it typical with like the powers of attorney, like if you're married, that just your spouse would be the typical power of attorney, but do you have have to actually like fill something out to make that happen? Or are most people, as you think about a power of attorney who are married, are they thinking like, yeah, I got to find like another family member, or is it typical just be the spouse?
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Diana G. Khan
It's typically the spouse who is listed. And then there's also an alternative. I always say you should have two alternatives. And a long time ago, before I had this company, I worked for a life insurance company whose entire job was for me to look at power of attorneys from different states and figure out how to invalidate them for people who recently became deceased. So power of attorneys are very finicky. So I always tell people, make sure you know what you're doing and that they're set up in full because they can get very finicky quickly.
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Host 4 (Co-host/Interviewer)
Got it. And then what's the, what's the main difference? Just as we're talking about trusts and wills off the bat here, what is that main difference? I, I feel like someone's explained this to me a while ago, but what's the main difference between just like a trust in place, say like a revocable trust and like a will? What's like the main difference between those two?
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Diana G. Khan
Let's go back to that backpack example. So when we talk about the backpack, right in, in the world that I live in, we've just created a backpack. It's of kind got a bunch of stuff in it. Well, if you have a will, that's the equivalent of putting a post it note on that backpack that says if I die, you know, my spouse gets everything or my kids get everything. And here's the person, or as I call them, the poor individual who's going to have to handle my wishes prior to that investment happening. So my will would probably say, you know, my spouse is going to handle the administrative affairs and my beneficiaries are the people who are going to get my stuff are my kids. And all it is is just a post it note. If you have a will and something happens to you, even if you're still alive, your backpack essentially drops to the floor and sort of freezes. Unfortunately, we live in the 21st century. The United States is not that robust yet where we know somebody passed away the moment it happens. So your bills, your life, it continues. Private school tuitions, maybe medical bills, all of those things keep coming in. And when you have a will, you've essentially named the person who's going to let all of those debt holders know that you've passed away. So essentially, the backpack drops to the floor, it freezes. A power of attorney is a post it note that says, if something happens to me, my wife can open this bag up and she can take stuff out and continue to pay my bills for a will. It says, here's who gets my stuff. And here who is going to take it to a courthouse to wind down my life? And the term probate, which most of us have heard is, is the idea of taking that backpack to a courthouse and saying, you know, Ryan, I'm just going to pick on you for a second. Here's Ryan's stuff, and I'm his administrator and his kids get everything. So I'm going to take everything out of your bag. I'm going to literally, like, I'm going to take a piece of paper, I'm going to itemize it, and I'm going to be like, this is what Ryan died with. And then for six or seven months, I'm going to pay Ryan's bills. I'm going to let the collect, like bill collectors, everybody know that you've passed away and sort of pay off that debt. Once everything is said and done, everything that's on that table that we were itemizing is now going to go into other people's bags where they're going to pay capital gains. If it's an investment property, they're going to now be taxed at a higher tax bracket. And then outside of that, they're also going to now be able to get a bunch of money which you've left behind. If you have debt, like Medicaid, even will collect before you pass away. So a will really just gives you the very basics. This is who gets my stuff, this is who gets to execute it. When we get into the fancy stuff, which is the trust, that is where I think, and this is my controversial opinion, is everybody should have a trust. And that's a straight up fact. If you have a will, at least in the state of Maryland, where I'm at, the lawyer can charge 4% of your entire estate to do that one year process. That's a statutory set amount, which means that if you die with 300,000, I'm keeping 4%, right? And then the capital gains is 8% for investment properties. So you do that math. You're like, whoa, right? If you have a business, half your business. If you have a business partner, your business partner is moving the business forward, but your administrator now has to handle that business. And how does a buyout look and all those things. When we talk about a trust, you're actually coming into my office and you're like, I don't like this. It's messy. What do I do? And. And I'm like, let's create a new entity, a brand new backpack. So it's not an llc, but it is an entity. And when we create this new backpack, because you're creating it, we can sort of create it with the instructions or the information that you want in it. So I usually say the backpack is a gift that you're creating for somebody else. So my backpack is a gift I've given to my kids. And at creation, I said, this does not belong to me. It belongs to my children. I am giving it to them today. But while I'm alive, I'm going to hold on to this entity. I'm going to hold on to this bag, I'm going to put stuff in and out of it. I'm going to grow its worth. I'm going to do everything I can. But I don't own it. My kids own it. However, until a triggering life event occurs to me, such as death, I'm going to be the holder of the backpack. So now I've got two backpacks. I take everything out of my personal one, I put it in the trust. If something unexpected happens to me now, both bags drop to the floor. The one that has my personal name on it should be empty. So now I'm avoiding probate, I'm avoiding inheritance taxes, I'm avoiding everything because when I died, I didn't own anything. Now my children have the trust, which was a gift I gave to them, and my death triggered their ownership rights. So they can literally go up to that bag, pick it up, and it's theirs now. And that's just the very basics of what is a trust or a will.
- [12:19]
Host 4 (Co-host/Interviewer)
I love that.
- [12:21]
Host 1 (Tom)
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- [13:14]
Host 3 (Co-host)
So, like, we're talking about a trust here. You know, there's a revocable trust and irrevocable trust. Which one should people normally start out with? And maybe what's the difference?
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Diana G. Khan
Sure. Let's talk about kind of the three main points that I talk about, a trust that you need to consider. The first one is when you create a trust, unlike with a will, you have essentially the ability to control people after you die. That sounds like such a weird thing to say, but really, I have young kids, so think about it from my perspective. If I die just with a will, the guardian of my kids will get all their money because they're under the age of 21. And that guardian may blow through it. They may do stuff because I can't give instructions with a trust. My trust specifically states that between the ages of anytime under 21, whatever amount that they're inheriting, only 10% is given to the guardian for their health, safety and wellness. And then I have from the ages of 21 to 26, 20% of their inheritance can be given to my kids as long as they're getting an education. And I have the controversial opinion that college is not the only education you can have. I don't think college is worthwhile for most people. So I have in there, at least in my trust, that education doesn't mean college degree. It could mean doing an internship somewhere and needing housing expenses. It could mean, you know, bartending classes. As long as you're furthering your career, your inheritance can be used towards living and lodging expenses for that. And then I have from the ages of 25 to 35, my kids will inherit 40% of their inheritance to use for the purchase of a primary residence or an investment property. However, they have to qualify for the mortgage on their own first before any of my money comes into play. So now I've made sure they live within their parameters, right? And then at the age of 35, they get the rest of it, except for what I call 5%, which I use for medical and health emergencies. That's available until the age of 50. So that control factor is incredible because unlike with a will, you can now control sort of what happens. You can designate the guardian of my kids if I pass away before they're 18 is going to be this person, but the money is going to be this person. So you can separate those two. The taxes on the trust are also beneficial. And I promise it's a very long winded answer, but I'll get to the difference of revocable versus irrevocable is when we talk about taxes, what we're really talking about is when you die with a will, let's say you die with a property investment property, that's $10. When your kids get it, that's an investment of $10. In Maryland, they're paying capital gains of 8%. Thanks for the $10. 8% taxes are gone. With a trust, you gifted it to them, it is not an inheritance, it's a gift. So they're not actually paying any taxes on the $10 cause you've gifted it. Essentially what they're going to do is do a step up tax value. And what that step up tax value is, you hold onto the property for a year, it's worth like $11 or $12. They're going to pay the difference. Now you guys are CPAs, so if I'm saying anything wrong, please don't shoot me, but essentially there's tax benefits over a trust, over a will. And we talk about those step up tax bases. And then the third factor really is just that it allows you to sort of do Medicaid protection and liability protection. And that's where the revocable versus irrevocable come in. Now, Medicaid protection essentially is if you age in America and I didn't grow up in America, so I have controversial opinion number three today is that our healthcare system just absolutely is not good. And as you age, you start having all these expenses that are living expenses and not health expenses, such as, you know, I need help using the bathroom because I'm Older, I need assisted living. I need all of those things start coming out of your pocket. And when we try to figure out how much you can afford, we look at your backpack and we're like, well, how much do you have in there? When we create a trust, that backpack, they can still see that backpack and decide your assets. If you have an irrevocable trust, which I will define in a second, the IRS says that if you've had that for five years, the IRS can no longer see it for the purposes of qualifying you for Medicaid or asset protection. So that's amazing because now I just permanently gifted something to my kids. I'm using it, I'm able to sort of benefit from it, but it's no longer going to be taken into consideration. If I'm doing, you know, government assistance, special needs kind of care, any sort of long term care, anything of those things, the IRS can't see that back. So really then the question is, well, what's the difference between revocable and irrevocable? And when we're talking about that, we're really talking about the backpack. A revocable trust is just a backpack that I can open and close. I can write a contract that says my kids get everything and in three years I'm be like, you know what, I don't like my kids anymore. I want, you know, I want Brian to get it and I can open the backpack back up, write a new contract, put it back in there. According to the irs, when we look at that, it's not permanent enough. It's a gift you can kind of take back at any time. And if there's a take backsies, there's less protections. It's good for avoiding probate, it's good for essentially making sure you control after death, but not necessarily for that liability and tax protection. An irrevocable trust is one that says I create the backpack and after I create it and I zipper it, I can no longer open it back up. There is a misconception where people think if I have an irrevocable trust, I don't have control of my stuff. That's not true. You just can't change the contract that you wrote between yourself and those you've gifted it to them. So if I have an irrevocable trust that says I can sell my primary residence while I'm alive and that money can be put in an irrevocable trust bank account for the benefit of my living, I'm not changing the terms. It's just I Wrote them right when I wrote them. But once I've had the irrevocable, because I can't open that contract back up or I can't open the backpack to change who the beneficiaries are, who's going to benefit from it. The IRS says you gave somebody something permanent while you were alive and after five years we're going to basically say that that's a permanent gift. And if you're anywhere above the age of like 50 and you're thinking about retirement and you're like me, where you have a bunch of properties, you may want to consider an irrevocable trust because all you're going to do when you get older is start paying the state and start paying assisted living facilities and start paying all these things for care. And somebody out there is probably listening to this and like, I'm never going to end up at a Medicaid facility. Medicaid is not as negative as you think. Almost everybody accepts it. But two, if you don't end up in that facility, you're probably going to end up in a similar one that you can't afford because it's just grotesquely expensive.
- [19:45]
Host 4 (Co-host/Interviewer)
Have so many questions.
- [19:48]
Host 1 (Tom)
Hey, real quick, if you've been a long time listen to the show, then.
- [19:51]
Host 3 (Co-host)
You know we give everything away for free from how to use the real.
- [19:53]
Host 1 (Tom)
Estate professional status and the short term rental loophole to save tens of thousands of dollars on taxes to upcoming tax changes, including the potential return of 100% bonus depreciation. We don't hold anything back. And the only way we would help more real estate investors is if you rate, review and share the show. It just takes 15 seconds to leave a quick rating review or share with a friend who may find this information useful on their real estate journey. That's all for now. We'll dive right back into today's episode.
- [20:18]
Host 3 (Co-host)
So it sounds like the difference between a living trust is like it still remains in your estate, you still remain in control of the assets and who can get those assets. And with a vocal trust, you're removing it from your state. You no longer have control over those assets necessarily and there's less of a benefit for you for those specific assets. However, you are removing them from your state again, but also potentially shielding them from like the IRS being able to assess how much you can pay into for medical care as you kind of get older.
- [20:46]
Diana G. Khan
If I miss it, yeah, 100%. And then when I talk about how do I do estate planning when it comes to like investors. Right. And, and that's Kind of the big question is how do you tie it all together? I'm just going to kind of tell you what my structure looks like so you can sort of understand it. And this is controversial opinion number five. Maybe I don't know what number I'm on. Some lawyers are going to tell you one investment property, one llc. I'm going to tell you that it's not realistic if you are not doing accounting for that LLC fully. You're not like, you know, you're making sure not to mix businesses and all that. It's not as protective as you think. And here's the problem. At 100 investment properties, if I had 100 LLCs, my full time job would be to figure out where the money's coming from. And that's to me very difficult. I think that lawyers aren't wrong in saying that one LLC per property is the most protective, but only if you're doing it right. So the way I have my structure and I think, you know, most people can have a similar one, is I do have multiple LLCs, but all of those LLCs are what I call client facing businesses. So my law firm, my contracting, my property management, they're all businesses that face clients. And then my investment properties, they're all in LLCs. But I don't have one per. I have, you know, a certain amount per LLC and sort of that's a its own entity and it creates business. Now what I do is all of these businesses, let's say my law firm makes $10 a month. It pays off all of my expenses, all of that, let's say my profit section is $4. When I have $4 in my pocket, I actually have an agreement with a holding company which is my holding company that says out of that profit, $2 is going to be paid to the holding company for doing taxes, you know, doing lots of stuff. I own that holding company. That holding company is not registered in Maryland, it's registered in Wyoming or Nevada. So it's more protective. And that holding company pays me a W2. That holding company is where like a lot of my fee structures and all that come out. And then above my holding company is where I have my trust that holds my personal assets. So when you start trying to find where all my money is, good luck. And if you're an investor, you should start kind of dabbling with that because that's really where you protect your money.
- [22:55]
Host 4 (Co-host/Interviewer)
And the way that you do it. Diana, are you thinking about as you have like multiple properties in a single llc, are you Doing it in like a quantity of rentals or are you thinking about it more as like a amount of equity that you have in each llc?
- [23:10]
Diana G. Khan
So when I started it was definitely quantity. You know, that was kind of my goal. I have since changed it to equity and I think that's based on where my goal values changed. Right. At first it was like, because I grew up really poor. So at first it was like, I just want to, you know, you know, quantity was the big thing. I wasn't thinking like long term savings and equity. As I kind of grew more, I was like, well, now I'm not counting every dollar coming in. I should really look at like the equity of each one because if I do need to take out one leg or one llc, I don't want all of my eggs to be in one sort of deep basket and then have three other LLCs that don't have much. So really it also depends on like, are you looking at money coming in as your goal for your llc or are you looking for long term holds? And that kind of. That's a structure you have to decide.
- [23:56]
Host 4 (Co-host/Interviewer)
Got it. One other question, Diana, that some people have asked us, even clients and listeners, is about offshore trusts. So is that something that is good for people? Talk to us about like pros and cons, when is that a good fit and for who?
- [24:11]
Diana G. Khan
Yeah, so offshore trusts are just trusts that are obviously not in the United States. They facilitate a more efficient transfer again for things like avoiding probate or, you know, things abroad. The big thing is that it takes both the US stuff that you have and other stuff across other countries and allows you to kind of have one specific subset that allows you to follow all of it at the same time. It allows you the same things. It allows you to establish the binding instructions for distribution. It's very similar to the United States 1. The big thing is though, it's got a much stronger protection against will, like will issues if one of your family members is going to kind of contest it. And there's also some IRS benefits as well, though offshore trusts have a lot more IRS scrutiny.
- [24:55]
Host 4 (Co-host/Interviewer)
So if you had just one other follow up to that, if you have zero non US assets, is that still like a viable thing or is that just for. For when you have assets outside of the country as well as in the.
- [25:07]
Diana G. Khan
U.S. so when we talk about offshore trust, really for U.S. investors, if you have mostly domestic rental properties, I personally don't think a offshore trust is really going to be that beneficial for you unless you have something where heirs are kind of arguing it out or you're worried about, you know, probate. But a local trust will do the exact same thing. Unless you have high exposure to international risk. I don't necessarily see the benefit, especially because if, as most of the listeners here have investment properties, they're still subject to the jurisdictional issues and the jurisdictional rules of the US because it's a, it's a house, it's got jurisdiction in the state you're in. It doesn't really matter if it's offshore or not.
- [25:47]
Host 3 (Co-host)
Thank you for clarifying that. Because there's a lot of people like, I think a lot of times, I think in just in general, people hear all these strategies and it sounds sexy and sophisticated, for lack of a better word, and it just doesn't always apply to everybody. So as a good clarification, there did want to just touch base on life insurance. We get a lot of questions about life insurance and it's tie into estate planning kind of. Before I get into any specific questions here, what's your general overview or general opinion on using life insurance and how it fits into the overall equation of like estate planning?
- [26:19]
Diana G. Khan
I personally, again, and I should preface this with I don't have life insurance, which is a weird answer, but I think everybody should have some. I just, one of my downsides, which is kind of the first talking point is I was diagnosed with something when I was nine, which is an autoimmune disorder. So I have a really hard time getting life insurance. I have since found out that if I gotten, if my parents had gotten me life insurance when I was under the age of 18, depending on the type of life insurance they could have gotten me, I would have had a chance to kind of continue that coverage after the age of 18. So now that I have three young kids, they're all eight and under, I actually have life insurance on all of them as the first strategy point because I just don't know where life is going to lead them. And as the main breadwinner for my family and somebody who consistently worries about this, I can't get life insurance. It's just, it's, I've tried to qualify multiple times. I've had insurance underwriters actually tell me that if I had been diagnosed at 10, I would have much easier time getting qualified. But I got diagnosed at 8. And whatever I got diagnosed with doesn't work well well with underwriting. So from that perspective, I think life insurance is key. The second portion is as from an investment perspective, I think everybody should, you know, it's Just like having stocks and bonds, it's a way to sort of have different ways to get creative with your investments and your structure where you're putting money into something where later you can take it back out or you can utilize it. I don't know why. I think. I think people get worried about life insurance because it's, it's. It's this, like, trajectory where people feel, at least it. My clients feel very strongly that insurance providers tend to just kind of try to sell you on anything. And I think if you get really familiar with how to utilize that as an investment strategy, it's just like pretty much a stock or bond, you need it. I don't have it myself. Wish I did. But you should have it if you can get it.
- [28:07]
Host 3 (Co-host)
When we look at life insurance, I totally agree. There's definitely. Everybody should have life insurance. Like, do you look at term or whole life as the way to go, or do you have, like, a specific opinion on that? Because I know there's a lot of debate out there whether or not you go term or whole life or should use infinite banking and all these different strategies, but kind of want to get your take on. On that.
- [28:27]
Diana G. Khan
So for me, it's, like, really difficult, right? Because for me, I don't have life insurance and I wasn't able to get some. So for me, I think I would have gone with whole life just to have something for my life. But I think term insurance is a lot more. To me, that's, that's. I'm in real estate. So for me, term insurance, the way that I can manipulate term insurance, how long I get it for, the cost basis and the benefits from it, is kind of where I feel most comfortable. It's. If I could get term insurance, that's kind of the way I would go. And that's usually where I send my clients out first and foremost.
- [28:54]
Host 3 (Co-host)
All right, everybody, thank you so much for tuning in again today. Great conversation with Diana. Unfortunately, due to some technical difficulties, we did have to cut this one short. Hopefully we'll have Diana on again at some point in the future. Future where we can revisit this conversation and perhaps touch on some other topics. But if you do want to work with Diana and you want to learn more about what she has going on, you can visit dklawmd.com that's her website. She'll have other additional information there on if you do want to reach out to her or learn more about what she's doing. So thanks again, everybody, for tuning in. We'll be back on next week's episode of the Tax Smart REI Podcast the.
- [29:31]
Host 1 (Tom)
Techsmart Real Estate Investors Podcast is for general information purposes only and is not intended to provide and should not be relied upon for tax, legal or accounting advice. Information on the Podcast may not constitute the most up to date legal or other information. No reader, user or listener of this podcast should act or refrain from acting on the basis of the information on this Podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Use of an access to this podcast or any of the links or or resources contained or mentioned within the podcast show or show Notes do not create a relationship between the reader, user or listener of the Podcast and the host, contributors or guests. Any mention of third party vendors, products or services does not constitute an endorsement or recommendation. You should conduct your own due diligence before engaging any vendor. For more information, reference the show notes or description of this episode.
- [30:18]
Host 2 (CPA Team Member)
Thanks for listening to today's show. If you enjoyed the show, please find us on itunes and leave us a review. You can also email us@contact therealestatecpa.com with any feedback or topic suggestions. We are always taking on new clients and with the new tax laws in play, you really don't want to navigate this alone. Let us help you save money on taxes with your accounting and CFO needs to become a client. Navigate to our client page@the realestatecpa.com and fill out a web form with as much detail about your situation as part of possible. Thanks so much for listening. Have a great rest of your weekend.