Tax and Legal

Learning Outcomes

Understand the similarities and differences between various business entities. Compare the tax pros and cons of each form of doing business. Understand legal issues related to the “corporate veil” and learn how investors can protect themselves from a potential lawsuit. Learn basic contract principles and typical pitfalls to avoid. Review IRS classifications of real estate investors. Understand passive loss rules for investors as well the basics about auto, travel, and medical expense deductions. Review asset protection and tax deduction strategies. Learn estate planning concepts and how to apply them to fit your family’s current and future needs. Understand the tax ramifications of selling different types of property. Learn how to structure your IRA for real estate investing.

Major Topics

Sensible approaches to legal situations in real estate investing. Differences between several types of business entities. Asset protection and deception. Estate planning basics. Understanding practical applications of owning real estate, the benefits of rental real estate, considerations for maintaining business entities, and the tax implications of operating under various business structures. Review various methods to maximize deductions and minimize taxes. Learn how to avoid prohibited transactions when using your IRA for real estate investing. Considerations for partnering and receiving money from others.