Hi, it’s Lou Brown. I’m back with more details about our upcoming event. Massive Passive Income. And one of the things you always want to think about is taxes. Taxes are something that you have to pay if you don’t have another plan, right?
It’s legal as it can be to reduce your taxes and even eliminate your taxes. Now how does that work? Well, simply following the government’s guidelines. So the government incentivizes individuals like you and me to be in the property business. Why? Because they realize that one of the needs not wants, needs of every human is to have a home, a place to live. And so the government says, Hey, we’re going to have to do some things to create enough of this out here because the government has already proven to themselves that they are very poor property managers and they are very poor being in the housing business. So they really need entrepreneurs that will take a risk and create opportunity for people out there. So one of the things they do is they give you a thing called Depreciation Write-Offs, right? And they say, Hey, you can depreciate your properties.
I want to teach this to you because it’s so amazing what they have built. And typically you do the straight-line method. That means you take off an amount for land, you take the balance and you write that off over 27 and a half years. And that means just an equal amount over that period of time. Well, what if there was something else? Well, they do. They have another part of the tax code that allows you to componentize the assets inside of a home and certain things can be written off over five years, seven and a half years, 15 years. Well, right now because of this new bill that they’ve passed this stimulus package, you can write the whole thing off. Listen, they’ve got amazing things I want to share with you. The new tax code, it’s gonna blow your mind. You’re going to be amazed at what they have done to incentivize owners and any work that you do to that property.
You can also write that off this year. Now. That’s one of the things and the other part I want to teach you about is a thing called 1031 Tax-Deferred Exchanges. That means that when one of your properties does sell, one of your buyers does buy. Then what happens is you get a big influx of cash. Well, what happens is under the tax code, you can take that profit, you can reinvest it into other properties and you can actually put yourself in a position to not have to pay any taxes at all. How cool is that? Absolutely cool. And it’s tax-deferred and I’m going to teach you about deferral. I’m going to teach you deferral forever. There are some awesome things in the tax code that most people, even CPAs, even people that are knowledgeable but taxes don’t know. It’s right there in the tax code and it puts you in a position to potentially zero out your taxes.
So it’s an amazing opportunity for all of you. I just want you to join me at 1-800-578-8580. Now we’re going to be learning about Massive Passive Income. This is a four-day event. April 30th, May 1, 2, and 3. We’re going to be doing this online together over that four days. I’ve got a lot of things you’re going to, you’re going to come away with great information. I’m recording it. You’re going to have access to the recordings, so you’ll be able to go back and relearn certain things that I’m going to cover that are just gonna, just gonna blow your mind, things that you’ve never heard before. And it’s what we’ve been doing. Listen, I’ve been at this game for over 40 years, so there are things that I know, I’ve seen other markets I’ve seen up and down markets. This market doesn’t scare me at all. In fact, it excites me because of what’s coming and so there’s so much opportunity. I want you to join me. 1-800-578-8580 that’s 1-800-578-8580 and I’m looking forward to seeing you at the event. Yeah, baby!