How to write off an December 2019 Vacation to Puerto Rico – and Learn about SDIRA’s/401k’s, The (Updated) New Tax Law, Entities & Asset Protection, and Superior Tax Saving Strategies.

By Attorney John Hyre at iralawyer.com

Class is from 8:00 am to 1:00 pm for each of 5 daysDecember 4 – 6+ 9 & 10 (the weekend of December 7 & 8 will be 100% personal time that is treated as a business time for tax purposes).  Spend the rest of each weekday and the entire weekend in Old San Juan, at the beach, in El Yunque Rainforest, at Condado restaurants & night clubs, etc.….and write off your vacation.

How does the write-off work?  Any day that more than 4 hours & 1 minute are spent on business is a “business day” for tax purposes.   When a trip has more business days than personal days can write off “getting there” (flight, etc.).  You can also write off a hotel room and (your) meals on each business day.  We are having 5 hours of class each day, so each class day is a business day.  But the class ends early so you can make the most of the local attractions.

In addition:  There will be no classes on the weekend – but those days are still treated as “business days” for tax purposes, so hotels & meals can still be written off for those days.  Specifically, the tax law allows one to treat weekend days as “business” days if it is cheaper to stay at the destination than it is to fly home and back again for Monday classes (and it is) – even though no time is actually spent on business.  And yes, I planned the class days to get exactly that result!

The Trip-to-Puerto Rico Write Off:

  • Spend up to 13 days in Puerto Rico and write off the cost of getting there (for those who attend the conference and are part of the business paying for the trip).
  • The hotel room can be written off on business days. Separate rooms for kids cannot be written off.
  • Your meals can be deducted, the kids’ meals cannot.
  • If you are going to learn about SDIRA investing, taxes & asset protection might as well make a fun, deductible vacation out of it!

LOTS of Q&A Off the Clock Instead at my usual $400 per hour

Self-Directing IRA’s, 401k’s, HSAA’s, and CESA’s (December 4 to noon on December 6)

  • How to Make Small Accounts into Large Accounts
  • How to NOT grow IRA’s based on the Tax Court’s huge new ruling in the Mazzei
    • Hint: Assignments are out, as are many types of option deals.  We’ll discuss what works, what does not, and, most importantly, why.
  • Why I run ALL of my deals via these accounts – and how you can too
  • Detailed discussion of how to avoid the dreaded Prohibited Transactions (they literally destroy the IRA with the government getting about half the balance)
  • Why I won in Tax Court the two times I sued the IRS in IRA cases
  • Detailed discussion of UBIT (“Unrelated Business Income Tax”)
    • When it applies
    • How to avoid it
    • How to reduce it when it cannot be avoided
  • “Check Book LLC’s” – when they make sense and when they do not
  • Powerful techniques to use OPM to supercharge your accounts
  • Why you DO qualify for a Roth no matter how much you make (your CPA is wrong)
  • How one anonymous investor is running 40 rehabs per year through his Roth

Entities & Asset Protection (Noon December 6 to noon on December 9)

  • How many LLC’s?
  • When does Nevada/Wyoming/Delaware make sense – and when not
  • Should you have a holding company?
  • Should you have a management company?
  • Series LLC’s – too good to be true?
  • Land trusts – helpful or guru malarkey?
  • How to figure out what causes lawsuits – and avoid them.
  • How to maintain your entities (few of you are doing this, making your existing structure useless)
  • When to use S-Corporations and C-Corporations
  • Why Nevada & Utah tax/asset protection advisors are evil – and wrong – and expensive
  • What entities protect – and what they do not

New Tax Law (Noon December 9 to Noon December 10)

  • The new “Pass-Thru Deduction” can trim up to 30% off of your taxes. We will discuss how to qualify in great detail, including:
    • Rentals
    • AirBNB’s/Short-Term Rentals
    • Rehab & Retail
    • Assignment/Wholesaling
    • Private & Hard Monday Lending
    • Realtor & other service providers
  • HOW TO WRITE OFF 15% OF THE COST OF YOUR RENTAL PROPERTIES
    • Example: You buy a rental property for $100,000 in 2018.  Following our careful interpretation of the new tax law, you get a $15,000 deduction in 2018.
  • Opportunity Zones – how you can own 100% of one and realize massive tax savings
  • Important Changes:
    • 1031 Exchanges
    • Personal tax return opportunities & traps
    • Subtle changes to IRS accounting rules simplify your accounting AND save you money
    • Why having a “Trade or Business” matters more than ever (and how to make sure your activity is a Trade or Business and not just “investment”)
    • Radical changes to choice-of-entity for private lending
    • Why paying the kids a salary became even more valuable

 

Tax Planning (Noon to end of day December 10)

  • Health Reimbursement Arrangement – What they are, when they beat Health Savings Accounts, how to create & run one, and a free sample plan
  • How to meet five hours in Mexico/Caribbean and write off the plane ticket for the entire week-long trip
  • What is a “real estate professional”, should you be one, how to qualify
  • “Dealer” Status – how it is different from being a “real estate professional”, what it means and what to do about it
  • How to maximize depreciation deductions on your rentals – are you depreciating the driveway, shrubbery, and patio?
  • How to get nice furniture in your personal home – tax-free
  • Using a vacation house for tax reduction
  • Taxation of Airbnb rentals.
  • Writing off things you love to do/How the IRS treats hobbies
  • 1031 Like-Kind/Tax-Deferred Exchanges, some creative twists
  • And much, much more.

 

TUITION

$1,599 per person.  Note:  I charge $400 per hour.  $1,599 would normally equal about 4 hours of my time.  The seminar should involve about 23 hours of speaking time, with lots of opportunity for Q&A.  It is an excellent value.   Spouses & children of attendees can come for an additional $300 each.  No discounts for “partners”, sorry.

 

Dear Negotiators:  NO EXCEPTIONS, DO NOT CALL TO HAGGLE, I WILL JUST MOCK YOU.  I am not in foreclosure, have not lost my job, and am not getting divorced.  In short, I am not a “Motivated Seller”.  The value offered is excellent.  Google me & reviews of my workshops.  They are painfully full of real-world content and are emphatically not a “sales-fest”.  The sheer quality & quantity of information will cause you to bleed from the nose & ears.  Bring a hanky.

Seating is limited to 50, first paid, first served.

Location

La Asociación de Empleados del ELA (AEELA)

Edif. #463 Parada 35 1/2
Ave. Ponce de León
Hato Rey, Puerto Rico 00917

To Order:

Email – help@realestatetaxlaw.com or call or text Mariana at (614) 207-2441 or fax (614) 750-3001.

Information I will need:

  • Name of attendees
  • Email, address & phone number of attendees
  • I will then bill you via our online banking system, so you can pay via credit card.
  • You can also mail a check to Real Estate Tax Law, LLC, 301 Calle del Recinto Sur, Suite 703-04, Cond. Gallardo, San Juan, PR 00901
  • Refundable through November 26, 2019, with a $50 processing fee kept by us, no refunds after the 26th.

 

Accommodations:

Our speaking space is not in a hotel.  As such we do not have a “block” with anyone.  I would stay in either Old San Juan or Condado – these are the safest areas in a high-crime city.  They also are packed with good restaurants and are a cheap Uber (and Uber is pretty cheap in PR) from both the event space and the airport.  There are lots of Airbnb’s and boutique hotels in the area.

Tourist Attractions:

We can help refer you to competent tour guides.  Things worth seeing or doing:

  • Old San Juan (gorgeous, lots of restaurants, shops, etc.)
  • Condado (restaurants, beaches, shops)
  • Bacardi factory
  • Bioluminescent Bay on Vieques island (best done on weekend as it means staying overnight elsewhere)
  • El Yunque Rainforest (about an hour from San Juan)
  • World class surfing in Rincon (about 90 minutes from San Juan)
  • World Class Beaches on Vieques and Culebra Islands (overnight trips)
  • Lechon Trail (delicious pig on a spit up in the hill towns)