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PODCAST

Real Estate Is Taxing

Natalie Kolodij, EA

Hey there, fellow real estate investors, FIRE enthusiasts, and tax aficionados! Welcome to "Real Estate is Taxing" – your go-to weekly podcast for all things real estate taxes, hosted by Natalie Kolodij, EA- Real Estate Tax Strategist and dry humor extraordinaire. Each week, we"re breaking down complex tax topics into bite-sized, understandable explanations, with no regard for how many obscure references it takes to get there.

business investing

All Episodes

21:15

#23: Seas the Deduction: Business Travel on Cruises...

Real Estate Is Taxing ·

2024/10/03

If you've considered attending a cruise that relates to your business-you won't want to miss this episode. Learn the ways you can and can't write off a cruise as a business expense. Facebook Group for Tax ProfessionalsFacebook Group for Real Estate Investors [00:00:00] [00:00:00] Welcome to Real Estate is Taxing, where we talk about all things real estate tax, and break down complex concepts into understandable, entertaining tax topics. My name is Natalie Kolodij, I'm your host, and I am so

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21:28

#22: Rulings & Real Estate: Unpacking Two Critical...

Real Estate Is Taxing ·

2024/09/26

Join me as I dive into two real estate focused Tax Court cases from summer of 2024. There's always something interesting to be learned when it comes to court cases. Facebook group for Real Estate InvestorsFacebook group for Tax Professionals TC Summary 2024-17TC Summary 2024-13 [00:00:00] Welcome to Real Estate is Taxing, where we talk about all things real estate tax, and break down complex concepts into understandable, entertaining tax topics. My name is Natalie Kolodij, I'm your host,

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29:54

#21: - Head Start on 2024: Preparing as a 1065 or...

Real Estate Is Taxing ·

2024/09/19

Anyone with a 1065 Partnership or 1120-S S-Corporation should have bookkeeping in my opinion, but if you don't...this episode is for you. This is your head-start on getting everything together for your tax professional to file your 2024 business tax return. Facebook Group for Tax Professionals Facebook Group for Real Estate Investors Introduction[00:00:00] Welcome to Real Estate is Taxing, where we talk about all things real estate tax, and break down complex concepts into understandable,

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18:04

#20: September 16th Filing Deadline- Are you ready?

Real Estate Is Taxing ·

2024/09/12

September 16th is the filing deadline for S-Corporations and Partnerships that filed for a 6-month extension. In this episode we'll discuss what creates those entities, some options if yours may be late, and a few other nuances to make this week a little easier. Facebook Group For Tax Professionals Facebook Group For Real Estate Investors IRS List of Qualified Disaster Areas Rev-Proc 84-35 Introduction to the September 15th (16th) Deadline[00:00:00] Hello. Hello everyone. And welcome to

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26:47

#19: 121 Exclusion Examples, Timing = Taxes

Real Estate Is Taxing ·

2024/09/05

Examples of the 121 Exclusion which showcase how small changes, can lead to huge tax impacts. In this episode of 'Real Estate is Taxing,' host Natalie Kolodij breaks down the intricacies of the 121 exclusion, which allows homeowners to exclude a significant amount of capital gains on the sale of their primary residence. . She details various scenarios to highlight how specific timelines and conditions—such as rental periods, military duty, and temporary absences—affect eligibility for the

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12:51

#18: 1099 Trouble: Are You at Risk?

Real Estate Is Taxing ·

2024/08/29

3 Common Mistakes When Issuing 1099 FormsEpisode 17: Hiring Your Kids: Tax Savings Strategy Or Really Risky Move https://www.natalie.taxhttps://www.incite.taxIn this episode of 'Real Estate is Taxing,' host Natalie Kolodij breaks down the three common mistakes made by business owners when issuing 1099 forms. She discusses the misclassification of children employed in the business, the obligations of landlords operating rental properties, and the incorrect issuance of 1099s to owner

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27:12

#17: Hiring Your Kids: Tax-Saving Strategy or Really...

Real Estate Is Taxing ·

2024/08/22

Maximize Tax Benefits by Employing Your Children: Key Strategies and Pitfallshttps://www.natalie.taxhttps://www.incite.taxIn this episode of 'Real Estate is Taxing,' host Natalie Kolodij delves into the strategy of employing your children in your business. She outlines the numerous benefits, including significant tax savings and the opportunity to fund a Roth IRA at an early age. Natalie also discusses crucial compliance requirements to avoid costly mistakes, such as treating the children

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28:23

#16: How Much Should I Pay A Tax Professional?

Real Estate Is Taxing ·

2024/08/15

How much should you be paying a tax professional? Share your thoughts on Facebook: Real Estate Investors: https://www.facebook.com/groups/REIKnowledgeVault Tax Pros: https://www.facebook.com/groups/realestatefortaxprosShare your thoughts on IG:https://www.instagram.com/re_tax_strategist/In this episode, we delve into the complexities of determining the cost of tax preparation and planning. Using a real-world example where someone faced a significant tax bill, we explore the core factors

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22:13

#15: When Should I do a Cost Segregation Study?

Real Estate Is Taxing ·

2024/08/08

Why Purchase Price Doesn't Matter When Deciding If You Should Do A Cost Seg Tax Professionals- https://www.incite.tax/In this episode of Real Estate is Taxing, host Natalie Kolodij delves into the complexities of cost segregation studies. She explains what they are, their benefits, and crucially, when they should be considered by real estate investors. With detailed analysis, she outlines different scenarios, including how depreciable value and income levels affect the decision-making

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28:03

#14: Millions & Mistresses, A Tale of S-Corp Rental...

Real Estate Is Taxing ·

2024/08/01

When Renting Real Estate to your S-Corp leads to a deficiency $500,000+ The Gregory and Laura Schnackel Tax Court Saga: A Tale of Extravagance and DeceptionTaxnotes Case Review: https://www.taxnotes.com/research/federal/court-documents/court-opinions-and-orders/no-deductions-28000-month-condo-no-business-purpose/7kjhlAre you a tax professional looking for an online community focused on growing technical knowledge? Where all responses require a citation? Check out Incite! InCite Tax

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24:20

#13: 4 Easy Ways To Earn American Airline Miles

Real Estate Is Taxing ·

2024/07/25

Sign Up For 4 Websites To Earn Free AA Miles: AAdvantage Shopping Portal: https://www.aa.com/web/i18n/aadvantage-program/overview.htmlSimply Miles Portal : https://www.simplymiles.comShell Fuel: https://www.shell.us/motorist/ways-to-save/american-airlines-teams-up-with-shell-and-the-fuel-rewards-program.htmlSurveys For Miles: https://www.milesforopinions.com Unlocking Free American Airline Miles: Simple Hacks and TipsIn this episode of Real Estate is Taxing, host Natalie Kolodij shifts

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21:36

#12 What is Authority When It Comes To Tax

Real Estate Is Taxing ·

2024/07/18

Understanding Authority Hierarchy in TaxDid you know the IRS isn't actually who makes tax laws? And IRS Publications aren't actual Authority? Let's find out who does and what is. From Congress-created laws in the Internal Revenue Code (IRC) to U.S. Treasury regulations, court case rulings, and IRS publications, she explains the hierarchy and reliability of these sources. She emphasizes the importance of basing tax positions on substantial authority rather than simplified IRS guidance or

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6:32

Bonus: Mid-Year Withholding Review

Real Estate Is Taxing ·

2024/07/12

Mid-Year Tax Check-Up: Adjusting Your WithholdingsIt's July! Time to review your paystub while you may be only halfway off track. Drawing from a real case where a client's withholding dropped significantly due to changes in income and bonus structure, the episode offers a reminder to check the percentage of taxes being withheld from your pay. It advises taking a close look at recent pay stubs and the updated W-4 form to ensure accurate withholding, especially if any changes in employment

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23:10

#11: 10 Common Tax Myths Debunked

Real Estate Is Taxing ·

2024/07/11

Join me as we debunk some of the most common myths & misconceptions around taxes.1. Myth: Tax Return and Tax Refund are InterchangeableThese two terms are often confused, but they are not the same thing. A tax return is the form you fill out and submit each year, like the 1040 form for most people. A tax refund is money you get back if you overpaid your taxes. Many people mistakenly say they're waiting on their tax return when they mean their refund. 2. Myth: You Need a License to

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27:25

#10: Oops I've Accidentally Created A Partnership-...

Real Estate Is Taxing ·

2024/07/04

Avoiding Accidental Partnerships in Real Estate **Correction** : Hey everyone! I misspoke in this episode. The guidance on rev proc 84-35 references the old consolidated audit procedures that impact older returns. The CPAR (Consolidated Partnership Audit Regime) that impacts current returns does NOT impact the ability to use Rev proc 84-35 for late relief. InCite Tax Professional Community: https://www.incite.tax/ Facebook for Tax Professionals:

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32:53

#9: When You Should Pay Extra Tax On Rental Income...

Real Estate Is Taxing ·

2024/06/20

Understanding Short-Term Rental Tax Loopholes: Key Court Cases and Revenue Rulings Natalie discusses various court cases and revenue rulings that provide crucial guidance on this topic, including cases from 1965 to 2023. She highlights differing tax treatments based on the nature of services provided, whether the property is subject to self-employment tax, and the importance of understanding context to accurately apply tax laws. Tune in for a comprehensive overview of significant rulings

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26:58

#8: Tips To Avoid An Audit If You Do A Cost Seg

Real Estate Is Taxing ·

2024/06/13

Understanding Real Estate Audits and Proactive Defenses If You've Done a Cost Segregationhttps://www.facebook.com/groups/realestatefortaxproshttps://www.facebook.com/groups/REIKnowledgeVaultIn this episode of 'Real Estate is Taxing,' host Natalie, minimizes the fear around audits by highlighting their low risk and focusing on practical steps to avoid common pitfalls. Key points include detailed guidance on mileage deductions, maintaining thorough records for real estate professional

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31:50

#7: Cost Segregation Education: An Overview Of Cost...

Real Estate Is Taxing ·

2024/06/06

Cost Segregation Studies- What they are, how they're done, when to use them...and what type of study should you choose. Have tips for making the most out of conferences? I want to hear about them! Email Contact@Cretaxstrategist.com or join the facebook group below to share your thoughts and ideas. Facebook Groups: Tax Professionals: https://www.facebook.com/groups/realestatefortaxprosReal Estate Investors: https://www.facebook.com/groups/REIKnowledgeVaultA comprehensive exploration of cost

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21:56

#6: Five Ways To Slash Taxes With The 1031 & 121 Combo

Real Estate Is Taxing ·

2024/05/30

And Why "You Can't Buy a Primary Home With A 1031 Exchange" Is wrong. Facebook Groups: Tax Professionals ---> https://www.facebook.com/groups/realestatefortaxprosReal Estate Investors ---> https://www.facebook.com/groups/REIKnowledgeVaultEpisode Topic Suggestions --> Contact@Cretaxstrategist.comLike the Show? ---> Rate it 5 ⭐️ In this episode of 'Real Estate is Taxing,' host Natalie Kolodij delves into the synergy between two tax code sections: the 1 21 exclusion and the 10 31

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28:24

5. Land Vs. Building - 3 Ways To Calculate It, And 1...

Real Estate Is Taxing ·

2024/05/23

Join The Conversation On Facebook - Tax Professionals - https://www.facebook.com/groups/realestatefortaxprosReal Estate Investors - https://www.facebook.com/groups/REIKnowledgeVaultWant To Attend An Event or Have Natalie Speak at Your Event?Upcoming Speaking and Teaching Events - https://www.natalie.tax/Referenced In This Episode: TC Summary 2017-31 -https://casetext.com/case/nielsen-v-commr-2In this episode of 'Real Estate is Taxing,' host Natalie Kolodij discusses the intricacies of real

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