Episode 27:

Paul Dion operates a New England Regional CPA practice specializing in proactive tax planning for business owners across the US. Paul is also an author and speaker and has written books on tax strategies for real estate agents and investors and other books for Dentists and Chiropractors; and is available for speaking to groups about strategies designed to save the audience thousands of dollars.

Paul has been planning and preparing returns for small businesses and real estate agents for more than 25 years. In his private practice, he has helped businesses recover $3,000 to $7,000 or more in wasted tax dollars in a single year and has saved some companies as much as $25,000 per year in wasted tax dollars. Paul specializes in helping small businesses keep more of their hard-earned money.

Paul is a regular contributor to Real Estate Talk Boston and provides regular articles to the New England Real Estate Journal. He is enthusiastic about the challenge of helping clients manage their personal and business financial matters with tax services and beyond. In addition to proactive tax preparation and planning, Paul continues to identify financial resources he can provide or recommend to enhance his clients’ wealth.

What you’ll learn about in this episode:

• Why current tax law favors business owners and people who own real estate
• Why tax planning and strategy are critical to keeping as much of your money as you can
• Why software tax packages mean you miss opportunities, and why hiring a professional CPA pays off
• Some of the top strategies that Paul recommends people implement to help you pay less tax
• The requirements are to be considered a real estate professional and how to take advantage of possible tax deductions available
• The difference between active tax and passive tax activities and how some popular passive strategies work
• How you can buy a rental property yet never have to pay a penny of tax on it
• What a 1031 Tax Deferred Exchange is and the steps you need to take to make it work for you
• Unique tax implications for people selling using owner financing
• Tax rules for selling your primary residence and how you can make them work for you if you’re planning to refurbish or flip property
• How W2 employees working from home can take advantage of their situation and save money
• How Paul’s book Real Estate Invest Tax Guide and his 5 Step Program can help you improve your financial literacy

Resources:

• Website: www.smarttaxadvisor.com
• Facebook: https://www.facebook.com/PaulDionCPA/
• Linked In: www.linkedin.com/in/pauldioncpa