tax incentives

Joe Biden’s re-election campaign launched a meme-heavy TikTok account in an effort to reach young voters. But considering national security concerns related to the platform, will the move pay off? We’ll get into it. Plus, strikes by Uber and Lyft drivers across the country are once again highlighting the distinction between contractors and employees. And, we’ll get into Bitcoin’s rebound and Beyoncé’s venture into country music.

Here’s everything we talked about today:

• • “Why Lyft and Uber drivers did their largest strike ever” from Vox

• • “Chicago Uber, Lyft drivers join Valentine’s Day strike with thousands across country” from The Chicago Sun-Times

• • President Biden’s first post on TikTok

• • “Biden campaign joins TikTok in an effort to reach younger voters” from The Washington Post

• • “Bitcoin briefly crosses $52,000 as it recaptures $1 trillion market cap” from CNBC

• • “Crypto ETFs now own 3.5% of all bitcoins in existence after ’10 years of pent-up demand'” from Markets Insider

• • “Beyoncé’s new country songs salute the genre’s Black cultural roots” from The Washington Post

• • “Beyoncé’s new country song features N.C. native Rhiannon Giddens” from Axios Raleigh

Join us tomorrow for Economics on Tap! The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We’ll have news, drinks, a game and more.

This week, the U.S. Senate passed the Inflation Reduction Act. If you grew up on Schoolhouse Rock, you’ll know that next the bill goes to the U.S. House. Because the House is controlled by the Democrats, it is expected to pass at the end of this week. President Biden would then sign the bill into law, likely late this week or next week. So WTF is the Inflation Reduction Act— and more importantly, how will it affect you? Nicole explains.

Opportunity zone investing hasn’t always been around for real estate investors to take advantage of. But as the government began upping the incentives around this type of real estate investing, more tax-savvy investors started to pay attention. You may have heard of opportunity zones before, but you probably don’t know how much of a heavy hitter they are in the realm of tax reduction. Someone who does know about opportunity zone investing is King Malaki Sims—CPA and avid real estate investor. He’s been buying and building homes in opportunity zones for years and makes the case that this type of investing truly is the best real estate “cheat code” out there. Through his simple strategy, Malaki has been able to not only defer taxes but in some cases, eliminate them entirely, just through simple, smart real estate investing. Malaki shares how even a novice real estate investor can find, fund, finish, and furnish an opportunity zone rental property all while keeping Uncle Sam away from their hard-earned profits. If you want to build wealth without having to worry about 1031-ing your properties, Malaki is the man to listen to. In This Episode We Cover: Opportunity zones explained and how new investors can start investing in them Where to find opportunity zones in your local area (no matter where you live!) Funding opportunity zone investments with little to no money down  The biggest opportunity zone myths that scare away investors far too early Depreciation, bonus depreciation, and tax-deferral strategies you can take advantage of How crypto, stock, and other investors can invest in real estate tax-free  And So Much More! Links from the Show: BiggerPockets Website BiggerPockets Bookstore BiggerPockets Forums BiggerPockets Podcast Episode 569: Rich Dad’s CPA Shares 5 Steps to Eliminate Income Taxes through Real Estate w/Tom Wheelwright Robert Kiyosaki's Official Website Donald Trump's Official Website California Opportunity Zone Website Cryptocurrency Rob’s TikTok Profile Rob’s Instagram Rob’s Youtube Channel David’s Instagram David’s Tiktok Profile Connect with King Malaki: King Malaki's Instagram King Malaki's Clubhouse Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-599 Learn more about your ad choices. Visit megaphone.fm/adchoices

It’s girl power on Ask Rob & Rob this week. 

Our first question comes from Amelia. 

Amelia would like some advice on how to find a decent deal in the property boom we’re now in.  

Her current strategy is buy, refurbish, refinance (BRR) so she can try and recycle some of her cash.  

To be successful with this strategy, Amelia would need to buy below market value, but she’s finding that most properties are selling for the value of them refurbished, so there’s no money in it.  

So, Ameila wants to know if there’s a useful way to secure properties off-market by leafleting or sending out postcards.  

Next up is Nancy.  

She lives in Merseyside and has a question on freeports.  

Now that Chancellor Rishi has outlined the areas that’ll benefit from freeports, Nancy wants to know if there’s any tax breaks or benefits for investing in these areas.  

So, do Rob & Rob think there are any tax relief benefits to investing in freeport areas? 

Tune in to find out. 

 

Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).  

Or if you prefer, click here to leave a recording via your computer instead. 

The next question on Ask Rob & Rob could be yours.  

Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself. 

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