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6 Real Estate Tax Mistakes That Could Cost You Thousands

Real estate tax mistakes are unfortunately quite common. Whether it’s not depreciating your rental property correctly, limiting yourself on expenses you can write-off, or assuming a certain deduction will flag you for an audit—there are many ways real estate investors could be pocketing more profit with less paid in taxes. So, before you start your 2022 tax filing, make sure that you’ve maximized your deductions and minimized your taxable income for this coming tax season!

Two people who have seen almost every real estate tax mistake around are Amanda Han and Matt MacFarland from Keystone CPA. They’ve time and time again had to educate real estate investors on all the possible deductions that they were missing out on. Now, in front of the whole BiggerPockets community, Amanda and Matt can showcase the six biggest tax mistakes they see real estate investors make, so you can save thousands (or more) on your 2022 taxes.

Have you been making any of these tax mistakes? Are there any common tax mistakes you had to find out about the hard way? If so, let us know in the comments below!

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Upgrade to BiggerPockets Pro (It’s a Write-Off!):
Grab “The Book on Tax Strategies for the Savvy Real Estate Investor”:
7 Common Tax Mistakes of New Real Estate Investors:
4 Depreciation Tax Mistakes Investors Need to Avoid:
Work with Keystone CPA on Your 2022 Taxes:
Connect with Amanda and Matt on BiggerPockets:
Amanda: https://www.biggerpockets.com/users/keystonecpa?utm_source=youtube&utm_medium=description&utm_campaign=none
Matt: https://www.biggerpockets.com/users/macfarland?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 6 Tax Mistakes to Avoid
00:17 1. You Need an LLC for Write-Offs
01:09 2. Your Home Office Will Flag the IRS
01:50 3. Only Realtors are Real Estate Professionals
02:49 4. Only Professionals Can Take Deductions
03:32 5. Depreciation Isn’t Based on Sales Price
04:32 6. Tax Planning + Filing Are The Same

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