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Summary
In this episode, the hosts discuss the partnership between Copilot Tax and Millen Wealth Advisors, focusing on how this collaboration will enhance client services. They delve into the complexities of real estate investments, including tax considerations when buying, renting, and selling properties. The conversation highlights the importance of financial planning, the implications of depreciation, and the legal aspects of property ownership. The hosts emphasize the need for a cohesive approach among financial advisors to provide clients with comprehensive guidance.
Topics Covered in this Episode
00:00 Introduction and Partnership Announcement
02:53 Exploring Real Estate Tax Considerations
06:02 Buying Real Estate: Key Tax Issues
09:01 Understanding Rental Properties and Tax Implications
12:10 The Importance of Financial Planning in Real Estate
14:57 Depreciation: Benefits and Risks
17:56 Legal and Liability Considerations in Real Estate
20:58 Structuring Real Estate Investments: Personal vs Corporate
24:11 Final Thoughts and Key Takeaways
Co-Pilot Tax
Website: https://copilottax.ca/
Millen Wealth AdvisorsWebsite: https://www.mwadvisors.ca/Register for our Free Financial Planning Masterclass for Business Owners: https://event.webinarjam.com/channel/Financialmaster
Follow us on Social MediaPodcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcastSam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=enSam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/Guillaume’s Instagram: https://www.instagram.com/financialplannergui/Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/
Keywords
Real estate, tax considerations, financial planning, depreciation, rental properties, investment strategies, partnership, liability, home buyers, tax advice