Sargis Ivanov: Learn from a CPA the different ways real estate can build wealth and help with taxes.
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Sargis Ivanov: Learn from a CPA the different ways real estate can build wealth and help with taxes.
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A proposito di questo titolo
In this episode, Brian Green interviews Sargis Ivanov, a CPA who shares his unique journey into the accounting profession, the growth of his family's transportation business, and his passion for real estate. Sargis discusses the challenges facing the CPA profession, the importance of mentorship, and the strategies he employs to help clients reduce their tax burdens through real estate investments. He explains key tax strategies such as the Augusta Rule, cost segregation, and 1031 exchanges, emphasizing the importance of proactive financial planning and regular consultations with a CPA.
Takeaways
- Sargis Ivanov emphasizes the importance of mentorship in his career.
- The CPA profession is facing challenges with a declining interest from younger generations.
- Real estate investment offers numerous tax benefits that can be leveraged.
- Building a clientele requires diverse marketing strategies, especially in a virtual environment.
- Understanding tax strategies is crucial for maximizing real estate investments.
- Regular consultations with a CPA can prevent costly financial mistakes.
- The Augusta Rule allows for tax deductions without reporting rental income.
- Cost segregation studies can significantly enhance tax deductions for property owners.
- 1031 exchanges provide a powerful way to defer taxes on real estate sales.
- Sargis believes in the importance of educating clients about their financial options.
Chapters
00:00 Introduction to Sargis Ivanov, CPA
03:34 The Growth of FCT Transport
06:05 Sargis's Unique Path to Accounting
08:01 Challenges Facing the CPA Profession
10:18 Starting a CPA Firm: Excitement and Challenges
12:20 Building a Clientele in a Virtual World
14:46 Niche Focus: Real Estate Accounting
17:11 Strategies for Real Estate Investment
19:33 Understanding Real Estate Professional Status
22:21 Leveraging Depreciation and Tax Strategies
26:30 Cost Segregation Explained
32:02 The Augusta Rule: A Tax Strategy
34:18 Utilizing 1031 Exchanges for Growth
37:26 Planning for Future Tax Implications
39:05 The Importance of Regular CPA Consultations
42:01 Final Thoughts on Real Estate Strategies