Shahar Plinner
How Real Estate Agents Can Save Tens of Thousands Every Year • Shahar Plinner
Episode Summary
In this episode, tax expert Shahar Plinner discusses how real estate agents can save thousands annually by incorporating as an S Corporation. He emphasizes the importance of separating personal and business finances and highlights the benefits of using tax-deferred retirement accounts. Shahar provides actionable insights into financial planning and entity structuring, making this a must-listen for agents looking to maximize their income retention.
🎯 Key Timestamps
High tax liabilities for 1099 real estate agents
Incorporating as an S Corporation to reduce self-employment taxes and increase take-home pay.
Co-mingling of personal and business finances
Set up separate business accounts and use accounting software to track expenses accurately.
Lack of retirement savings among real estate agents
Utilize tax-deferred retirement accounts like solo 401(k)s to save on taxes and prepare for the future.
🎬 Clip-Worthy Moments
"Just moving into an S Corporation structure can save you 15% in self-employment taxes."
Hook: Are you leaving money on the table with your current tax setup?
"The number one mistake we see real estate agents making is co-mingling of funds."
Hook: Is mixing your personal and business finances costing you?
💡 Key Tactics
Incorporate as an S Corporation
For agents earning over $80,000 annually to save on self-employment taxes. (17:00)
Use accounting software to track expenses
To maintain clear financial records and avoid IRS scrutiny. (26:00)
Contribute to a solo 401(k)
To maximize tax savings and prepare for retirement. (20:00)
💬 Quotable Insights
"Treat your real estate business like a business, not a hobby."
"The tax code is designed to benefit those who understand it."
Full Description
Shahar Plinner a tax expert talks about how he got into taxes. Shahar discusses ways agents can structure their entities that enable them to save on taxes. Shahar also discusses how to keep a clearer picture of your taxes by keeping separate accounts. Shahar shares tax deductible examples for agents to leverage.
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Topics Covered
Problems Addressed
Best For
Resources Mentioned
Formations Corp
website • Recommended for real estate agents to explore tax-saving strategies.
Zero Accounting Software
tool • Suggested for managing business finances efficiently.