Epic Real Estate Investing - EPREI 022 : Fun with Real Estate Taxes, Laws and Mark J. Kohler

Episode Date: December 13, 2011

On this episode, Matt interviews one of the foremost experts of real estate tax law in the country, Mark J. Kohler (MarkJKohler.com). Get your tax and legal answers to your most burning questions. Get your free real estate investing course at http://FreeRealEstateInvestingCourse.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Epic Real Estate Investing Podcast, episode 22. You're about to meet a man that can show you how he took control of his life and financial future and how you can do the same. He's never been on TV. He's not a millionaire, and he does not know Donald Trump. He is a full-time real estate investor, newly discovered author, and family man. He does not report to a boss. He creates his own schedule and takes his family on a few vacations every year.

He got started investing in real estate with almost no money in a really crummy credit score. And he's going to show you exactly how he did it and how he continues to do it. You will have to work. You will have to be responsible. However, laying by the beach sipping fruity drinks is a reasonable goal without further delay. Your guru. Sorry. Your guide to a better life through real estate investing.

Matt Terrio. Hello and greetings from the Epic Real Estate Investing podcast, the podcast that will show you how to build wealth through creative real estate investing. So you will have the option to realistically retire in the next 10 years or less. And enjoy the good life while you're still young enough to do so. That's what it's all about. You got to retire, you got to enjoy the retirement, or you have to have the option to retire while you're still young enough to enjoy it. My name is Matt Terrio, author, full-time real estate investor and family man. If this is your first time listening to this show, you're going to want to do two things.

First, go back and listen to Episode 1 for the ground rules of the show. And two, download the free real estate investing course, how to do deals, no money required. You can get that at free real estate investing course.com. It's a step-by-step course of which I unveil the mystery around doing deals with no money or credit. And that's yours for free. Now, I hope you've been enjoying our series of real estate investors, real estate investors succeeding in today's market. I mean, based off the flood of comments and emails that I received, it appears to be a big hit and we'll certainly resume with the series. However, today I want to take a little break from that series given the time of year. No, not the holiday season. To what I'm referring is that we're

approaching the end of the year and we're about to begin tax season. So, today I've invited a very special guest, a good friend, the utmost authority that I know on real estate tax law. He is an attorney, CPA, entrepreneur, bestselling author, national speaker, radio show host, and news contributor. He is known as the nation's leading voice for entrepreneurs and small business owners, having taught thousands and thousands of people, including myself, how to take control of their financial future and steer their business to success through his powerful business, tax, and legal strategies. He has two books.

By the way, I highly recommend both of them, lawyers or liars, and what your CPA isn't telling you. And he's going to talk about those a little bit. And you can find those books on his website, which I'll give you the address at the end of the show, or they can easily be found at amazon.com. Okay, so without further ado, today I am joined by Mr. Mark Kohler. Mark, welcome to the Epic Real Estate Investing podcast.

Thank you so much for having me. I'd love to be here. Awesome. Awesome. I've been looking forward to this conversation. Hey, Mark, just real quick, before we get started, could you just kind of tell us a little bit about your background and what you do and why you do what you do and how great you are? Well, Matt, thank you so much.

I could probably talk about that longer than I should, so I'll hit the highlight side, because I'm very passionate about what I do. But I'm a CPA and an attorney and an entrepreneur and real estate investor and family man, wife and four kids live in Southern California, I'd love to surf. And I understand we're going to be talking about surfing most of this hour. Yes, that's accurate. Maybe not.

Okay, sorry. Okay, so anyway, I love taxes. I love entrepreneurship. Isn't that crazy? Now, I don't like to pay taxes. I just like to plan around them. I was one of those kids that had the Lego set or Lincoln Log set, Rector set, and I'd love to build structures and ethical and honest structures to help my clients save money and build wealth.

I've written two bestselling books. What Your CPA isn't telling you is my newest book out. It's a fictional story of a family that discovers tax strategies that changes their life. It's awesome based after the modern family with Phil Dunphy, my hero. And then, just joking. And then also I am by a book before that titled Lawyers or Liars, The Truth About Protecting Our Assets, Another Incredible Book on Helping People Avoid the Scams when they go to set up their structures and entities to protect their assets.

build wealth. And I have a weekly radio show nationwide, weekly newsletter, and I have a full-service accounting firm and law firm where we help clients all around the country. And so I guess we're going to be talking about taxes and legal and not surfing. Right. No, no surfing today. Maybe another show. Absolutely. You know, I actually, most of this conversation is going to be on legal and tax strategies and tax issues. But you had mentioned just when you introduced yourself that, uh, you are a real estate investor. How did you get started in real estate investing? And what was your initial attraction, I guess? Well, there's probably two answers to that. The first one is I'm so grateful to my dad. He was a wonderful mentor, an example to me. And as soon as I was running off

to college and getting married, he bought me a duplex. He helped me with a down payment. I got my loan. And I had a duplex for five years as I went to undergrad. And I learned how to be a property manager the hard way. I just do it. And then I've, he taught me that, you know, he always bought a real estate as a, he was a doctor. He was actually a microbiologist. He wasn't a physician, but a microbiologist, and he knew that wealth was in real estate,

and that's what he taught me. And then I guess the second time in my life where I realized it was important is when I started to become a tax lawyer and understanding all of the tax benefits and wealth-building aspects to rental real estate. So now in my new book, and when I teach clients, I recommend that every one of my clients buys one rental property a year, and no matter what industry they're in, buying one rental property year is an incredible way to save taxes and build well.

I've heard that. I heard you make the same recommendation to your employees as well. Is that true? Yeah, I tell the employees that. I don't think they listen to me as much as my clients, but I try. Right. Well, good. You know, I initially, I was inspired to call you up because you're probably the best that I know at what I want to discuss with you today. And I'd sent out a survey to the listeners and asked them their most burning questions about real estate investing. And I've got bombarded with a bunch of bunch of questions. And I've been spending the last couple weeks answering those and bringing on other people and help me answer some of those questions. Some of them are out of my expertise. But I was really surprised. shocked on how many questions I got were in the legal realm and the tax realm. So I just, you know, I couldn't think of any person better to invite onto the show to help me answer these. So I'm just

going to go through these questions with you. And there are no particular order. There's just kind of how they came through. And we'll take a stab at them. Well, awesome. I love it. And this is easy for me. So I know that sounds, I don't mean to sound pre Madonna or cocky about it, but that's an easy way to go out of for me too. So go ahead and shoot. Perfect. Okay. So question number one. What entity should I choose when and why? It's a broad, broad question, I know. Well, let's tackle world peace. That's a little easier.

Okay. All right. Well, let me say, and this is something I talk about in my new book extensively and in my online videos, and I talk about this a lot. This is a big topic. Let me give you some general rules. The first thing is you have to decide what type of real estate you are doing. If you're doing short-term real estate, such as wholesale, fix-and-flips, rehabs, a quick turnaround property that you're not going to hold more than, you're going to hold less than 12 months, then an S corporation is going to be the general best fit. Now, you're going to have those very, very unique scenarios where a C-Corp might work, which I'm not a big fan of for an average investor.

And there are situations where you can just do it through an LLC, a single-member LLC, and tax it as a sole proprietorship, which is going to be fairly rare as well because it's self-employment tax. I want to use an S-corporation to help my clients to have short-term real estate deals, avoid self-employment tax. Many of you may not know that if you do fix and flips, you're going to pay 15% in taxes on the net income even before income tax, state or federal. It's a nightmare. The S corporation is the best way to go.

I've written books about it. I'll argue with anybody. And if anybody tries to sell you a C corporation, freaking get a second opinion. So that's issue number one. If some of you are doing long-term holds, rental property, apartment complexes, seller finance notes, things like that, that are long-term in nature creating interest or rent or capital gain. You're holding it more than 12 months. typically the LLC is going to be the best at limited liability company.

Now, in some states are expensive, and I talked about it on my radio show today. Not every time you should run out and set up an LLC, but generally, yes, you should have an LLC in place for your rentals. Now, not every rental. You may put five or six rentals in one LLC, but you also set them up in the state where you're doing business, and you make sure the deed is transferred. You use the LLC name, and be careful of limited partnerships, Limited partnerships are fantastic for certain types of assets, but typically not rental property. So watch out for that.

Got it. There's a lot of people that listen to the show that are just getting started in real estate investing. And one of the questions that came up actually pretty frequently was, is it necessary to establish your entity before you do that first transaction or can you do it after the fact? Well, that can be a loaded question. typically let's do short-term versus long-term again, which is a theme I talk about a lot, is making sure we're choosing the right entity in the short-term or long-term position. If you're doing a long-term deal buying a rental property, the last thing I want to do is have you set up an entity before you close. It doesn't make sense.

You may make an offer on a project, and you don't even know if it's going to go through. Buy the property, and most lenders are going to require you to close in your own name anyway. then you're going to deed the property over to the LLC after closing. For example, man, it happens all the time. A client calls me and goes, hey, I'm going to buy rentals. Set up my LLC. And I'll go, where are you going to buy your rentals? Well, I don't know. I might buy in Georgia or Oklahoma or Utah or Arizona.

Well, then I'll say, well, great. As soon as you get that first property, call me and we'll get it set up the day after you close or during closing. But if you don't know where you're going to set up buy your rental, why set up an LLC in the wrong state? So that's issue number one. If it's a rental property, you definitely want to get an LLC, but we want to make sure you're going to have a closing and own a property before we set something up.

It could be a waste of money. On short-term deals, I think it is important to have an entity before deals. It can be a little scary with a potential lawsuit doing a rehab, you know, buying a property in your own name and then hiring vendors and contractors and you've got kids running around on the property at night and blight and fires or, you know, vandalizing and all of a sudden you get into a lawsuit with a vendor or contractor, who knows who. So if you're going to be doing rehabs and fix and flips, it may be good to get your entity set up right off the bat for asset protection purposes. The tax benefits will flow thereafter.

You may want to do the first deal in your own name and just know that you've got some exposure and then with the profits from that first deal, get your entity in place. So you probably want to get an entity as soon as possible in the short-term deals. Got it. Got it. Cool. So this next question, actually the next two questions, I'm going to kind of combine them into one of them, do my best and hopefully you can follow along as I do this.

The first question was, what are the five most valued tech tips for the real estate investor for 2011? And the next question is, what's changing in 2012? So I guess we can kind of talk about what's happening in 2011. We've got we're here in December. What can someone do in 2011 that they might not be able to do in 2012 and kind of play with that, I guess. Well, and, man, this is, I know hard for you, and I don't mean to make your podcast less valuable here. But the question of what are the best tax strategies in 2011 for real estate investors.

I mean, I hold seminars on that copy. and what are the changes for 2012? That's a two-day seminar that I go to every January. So this is very, very difficult question. So bless your heart, whoever was that asked it. Let me hit a few highlights. And again, I highly encourage you to check out my online videos at markjKoller.com or my book to get some additional help on this.

If your CPA doesn't know this topic backwards and forwards and isn't holding webinars and online videos and radio shows to help you, then you've got the wrong CPA. And you shouldn't be trusting somebody that's not licensed as a CPA or an attorney. Please stay away from these quote-unquote coaches trying to play lawyer or CPA. And that's why Matt, I want to applaud you because you said, hey, I'm not going to try to answer these. I'm going to get an expert to answer them, which I think is the way to go.

Great job, Matt. So, gosh, tax strategies is a real estate investor. Number one, buy a rental every year. And no-brainer. Everybody, I want all my clients buying a rental every year. The reason is four, four quadrants, so that I talk about on a regular basis. Number one, appreciation, which is the cherry on top. We don't buy rentals for appreciation.

That's the problem we got into in 2007. Mortgage reduction. The renter's paying the mortgage for you. You're building equity as the renter pays the rent. Number three is tax benefits. You're going to get full through losses that carry forward or are immediately deductible against your current income. and number four is cash flow. Those four benefits, appreciation, mortgage reduction, taxes, and cash flow.

That's why I want my clients buying a rental every year. Number two is, if possible, I want my clients, they themselves or their spouse, to qualify as a real estate professional. Being a real estate professional allows you to take 100% dollar-for-dollar write-offs on your rental properties against your ordinary income. Again, another huge benefit if you're going to be a real estate. in the real estate industry. So you want to be thinking about being a real estate professional.

Boy, what else to tell you? There's cost segregation where you can ride off chattel faster than 27 and a half years or 39 years if it's commercial. I just got off a phone call literally right before this podcast, Matt, I got off on a phone call talking about 1031 exchanges, deferring the taxes on one property and rolling it into. to the next. That's an important strategy. Every real estate investor should know. I want to have all my clients put their family on payroll. I want them to be writing off travel, making sure

they're buying rental properties where they travel. I want you to be self-directing your IRA and buying rental real estate. Oh, my gosh, Matt, you can know where do I stop. Right, right. It's a big question. Yeah, it is. It only took up one little line on my piece of paper. I had no idea the answer was going to be so huge. Oh, my God. So what I'm getting here is, well, let me ask this. Obviously, there's so much to know, so much to learn that the real estate investor themselves just couldn't possibly keep up with everything.

That's why there are CPAs and there's tax attorneys. What can a real estate investor do to confirm that their own CPA, their own tax attorney, is up to speed? Or can they do anything? Well, great question. And I thought your question was going to be, what type of resources should they be turning to? And let me answer that in a two-part question. Finding out if you have the right CPA, some of you out there don't want a CPA.

You think you can do it yourself. And I'm talking to you engineers out there. Yes, you're listening. I know you are because engineers, they want to do it all themselves, and they, you know, they think they can figure it out. Be careful. I don't ask my engineer why he's using the certain size of two-by-fours and bolts in my house. just trust him and hire a qualified engineer. But anyway, let me say this.

First of all, all of you out there, you should be soaking up tax and legal information wherever possible. And you're going to start to be able to sense what is scans and promises and too good to be true type strategies as you soak this information up. Now, just, and I'll say there's competitors of mine that have newsletters that are fantastic, and I subscribe to my competitors' newsletters. You should be getting two or three tax newsletters if you're not, at least subscribe to mine. Make sure that you're getting a tax and legal newsletter every week or month with tips. Number two, try to pick up the best tax and legal books that are out there and work your way through them. some of them are extremely boring.

That's why I wrote my book as a story, and I made them both very interesting and fun with a lot of little examples. And I even have a chapter on O.J. Simpson, which is a lot of fun. So I'm going to try to keep my books lively. But read books that you can. I have a radio show every week. I have a podcast every week. I have online videos that are very fun and informative and affordable, $150 for six or eight hours of videos. I'm not trying to be salesy here.

If you're not using me, use someone that's giving you that type of information. And they should be licensed practitioners that are actually going to sign your freaking tax return. I'm sick and tired of clients going, oh, if so-and-so told me to do this, really, are they signing your tax return? No, but they've got some great tips. Well, what the heck? If they're not going to sign your tax return, what is it worth? It's worth nothing. I carry malpractice insurance and I'm licensed that if I sign your tax return and screw up, I'm the one that pays the bill.

So get advice for people that are good out there. And then I guess to find the right CPA, take some of these tax tips that I just mentioned today. Walk into your CPA and go, hey, where should I buy my rental property? Oh, well, I don't even know if you should buy rental property. That doesn't make sense. You know, that's, you've seen the market out there and both.

Hell, it's a buyer's market out there. If they're not talking you and buying real estate, what kind of CPA are they? Are they helping you write off your kids or family members in your business? Are they writing off your auto and travel and dining and entertainment creatively? Are they bringing ideas to you? Talk to them about self-directing your IRA or 401K. What did they say?

Do they look like deer in headlights? You got the wrong guy, the wrong gal. Ask them about being a real estate professional. Just do this. Walk in and go, how do I qualify as a real estate professional? If they say, well, let me look it up. You got the wrong guy, the wrong gal. These are people that should have it.

If you're going to be in real estate, you need a real estate. attorney of CPA, that's freaking doing it every day. I'm so sorry I'm getting on a soapbox here, but this just, this just huge. Sorry, Matt. Oh, that's fine. It's perfect. That's why you're here, Mark, because this could be a very boring subject, and the people out there without the passion, and I know you have the passion for it,

and, you know, you're the best that I know, so that's why you're here. So thank you for sharing that. But let's switch gears a little bit. next question is what are the most important aspects when partnering up with another investor and should it be written up and signed by both parties well i can hear you laughing about that before i asked it well it's a great question and i'm glad we went over to this question this is an excellent question that i can answer with a little more um certainty um and obviously the person that asked a question gave the first point, and that is make sure you've got it in gosh darn

writing. If you're going to partner with someone, make sure it's very clear as to who does what, what are the expectations, plan for the worst case scenario, make sure that you're thinking of all the loose ends. And if your partner isn't willing to talk about what happens if they don't do their job, you've got the wrong partner. A partner should be willing to have those hard conversations and you're going to find it real quick in your gut, dude, this guy or this gal, they're kind of crazy. I mean, why aren't they thinking about this or that? Everything is not pie in the sky.

You've got to plan for the worst case. And so if you've got someone that's that aggressive or optimistic, you've got to watch out. The other thing that I would just point out is make sure that whatever you sign, get it reviewed, pay an attorney for a half hour or an hour. at the most, it only cost you two or three hundred bucks and just say, hey, I got to, I got to let my attorney look at this. Oh, you do. Well, just trust me. You know, you don't need a lawyer.

That's when you need to get a lawyer if someone says that. And so make sure you get it reviewed for an hour. I guess another little tip I would make to is if someone's trying to partner with you, and I love partnering. I'm not saying partner is bad. Just do it right. That's all. And if someone comes up to you and says, you know, hey, Matt, move quick, we've got to move fast. that means slow down because as soon as you start moving fast that's when mistakes happen and people get taken advantage of

one of the biggest scams out there right now is called affinity market affinity scams where people in your church and your neighborhood or your family comes to you and says hey come on do this deal with me and because their friends or family you don't go through all the steps make me your bad guy say i promise mark cole or my attorney that i would not do any deal unless he looked at it oh okay, you know, and you're starting getting a weird feeling and follow your gut. I'll make you a promise right now. There's there going to be another deal next week. I can promise that. So if someone says, you've got to move right now and there'll never be another deal like this, trust me. There'll be another deal like this.

The more important factor is, are you ready for the deal and is your ducks in the line and do you have your right, are your ducks in a row and do you have the right person? Very, very important. So there's so much to be considered there. and just hopefully some of those tips help. No, definitely. Good answer. Next question.

I heard that it's possible to make millions in cash flow and pay zero taxes on it. Sometimes you even get money back from the IRS. How is this done? Well, it is possible. I know that sounds crazy. It is. And I'll give you three words. Real estate professional.

That's it. If you're a real estate professional, You, all of your, my clients that are real estate professionals have tax-free cash flow from their rentals and they're not paying taxes. Because as a real estate professional, all the depreciation and mortgage interest is 100% right off against your other income and cash flow. And it will exceed the cash flow. Now, if you're going to own properties 100%, no money down and own properties outright, you're probably going to pay some taxes. depreciation will not chew up the cash flow. But if you've got renters and you've leveraged your money and you're using the bank's money,

which I think is very wise, as you're cautious, you're going to have tons of cash flow and no taxes. It's very doable. Talk about that in my book. It's a chapter in my book. When you say real estate professional, you don't mean a real estate agent, right? No, that's true. The definition of a real estate professional is a two-part test. one is that it's your primary occupation, and that doesn't mean you have to be a lifest realtor, contractor, or mortgage lender.

It just means you do real estate, managing rentals, doing rehabs, fix and flips. If you have one rental property and you're retired, you could say you're a real estate professional, and that's all you do is manage your one little rental. But the second part of the test is that you spend 13 hours a week, which is a total of 750 hours a year. And you can do all that time in half the year, but the point is you have to show 750 hours of work in real estate throughout the year, two-part test. And if your spouse qualifies, you both qualify, which is a fantastic option. Right, right. So you want to marry right?

That's true. I was like, oh, my joke fell on deaf ears. Okay. Trip, true. No, no, it's good. No. So what you had said, oh, you had said, you have to show the 750 hours of work.

How do you show the work? Well, I do recommend for my clients that are on the bubble that they are keeping, you should keep the calendars. All of you should be keeping an outlet calendar of your schedule and logging your hours, working on your books, working on properties, going to education meetings, sales meetings, meeting with vendors, clients, contractors, whatever you're doing, it's real estate.

Keep a record in your Outload calendar. Got it. Got it. Okay, cool. Here's the next one. Rumor has it that IRS is looking at small businesses closer and closer. What are some of the bigger things that the IRS looks for when deciding who they're going to audit? Well, the IRS is ramping up their audits and have been for the last three or four years.

Well, the number one thing they're looking for in small business is a sole proprietor. If you want to reduce your chances of an audit, get into an S corporation or a two-member LLC for your business. I can reduce your chances of an audit by 1,500%. Wow. That's by 15 times less chance of an audit. Wow. Huge. What they're looking for, really, and there's not one particular item that the IRS is looking at,

They're looking at items that jump out, kind of items that don't look normal for the type of business you're doing. And they stand out because you may only have $1,000 of income, but you wrote off $20,000 in real estate education. Folks, that ain't going to fly. You're going to get an audit. So be careful trying to write off all of your real. And I know some of you listening have spent somebody on real estate education. I'm not saying you can't write it off, but write it off over time, as a lot of it. a startup cost or amortize it.

Don't try to write off 20 grand in real estate education with only a few thousand dollars of income. You will be audited. Dining, entertainment, travel, education, all of those are reasonable write-offs as they look balanced with your tax return. And this is why trying to knock out your own return on turbo tax may not be your best bet. Getting a CPA that can tell you, ooh, that's red flag, that's not red flag. because if your CPA screws up your return and recommends some an aggressive position and they're wrong,

that CPA should be paying the penalties and interest on that. So keep that in mind. Got it. What percentage of tax returns are getting audited? Do you have any idea? I don't. There are statistical reports that come out. I report those in my newsletter on a regular basis, but I don't have them handy it right now.

Good question. Sorry. Okay. Well, good reason to get the newsletter. What are some common tax slash legal mistakes investors make that cost them money? Well, a lot of new real estate investors do not maximize their write-offs as much as they should. They keep poor records. They don't do bookkeeping.

They operate as a sole proprietor. They take large write-off. that stand out. They don't even know about the real estate professional classification. They're not writing off their rentals in the right way. These are all different ways to screw up your return. Some clients may say, well, gosh, Mark, I've got to pay you for an hour or once a year to look at my return. Yeah, that's 300 bucks.

I hope to save you 20 times that in taxes easily. I mean, seriously, I can save you three to six grand in taxes by just looking at your tax return and making sure it's done right and is it balanced and what are the things should you be doing? Whoever's asking these questions, they should be saying, oh, I don't even need to ask Tom. I just need to get my appointment with my awesome freaking CPA firm and they'll do a great job. Is that really? And by the way, I've got an awesome team. If you find a CPA that has all the time in the world for you, you probably have the wrong CPA. because if they're good, they're busy.

And so I've got four CPA, five CPA partners, staff of about 15. We assign a personal tax consultant to every one of our clients where they can get access quickly and affordably. Don't feel like you have to call and schedule time with me. I'm here. I'm the architect. If you need me once a year, it'll go over everything. That's cool.

But please work with my team and realize that I'm not trying to be everything for everybody. That's why I've got just great people around me. right right awesome let's talk about the uh the titles of your book they're very unique titles um lawyers or liars we'll start with that one um obviously there's there's a hook there because you are a lawyer yourself i don't think you'd call yourself a liar so what do you actually mean by the by lawyers or liars you bet well it's just a discussion point i mean that honestly not an accusation there's a lot of um people out there that call lawyers liars and they're really just scam artists trying to get you to avoid lawyers

and buy their crap. They didn't want to spend the time to go to law school, so they're going to call themselves a coach and just say, oh, your lawyer's an idiot, I know better. Right there, that's the group that I really tried to write my books to protect clients from. So watch out for these online services that try to set up your entity for you or give you bulletproof asset protection. It's a bunch of crap.

So I wrote the first half of the book goes through what scams are out there, and then the second half of the book tells you what really works. And it's kind of fun. Got it. Your next one, what your CPA isn't telling you, life-changing tax strategies. So what are some of the things that the CPAs aren't telling them? Well, the first thing is, and I write it as a story, which is a lot of fun for a lot of people. And so in the story, the biggest thing that this couple and this family realizes is that their CPA was a poor communicator and did not bring them ideas and strategies.

And they were far too conservative, opinionated, which is a lot of CPAs in that way. And they're stodgy. They're, you know, there's a reason why you see those atypical examples in movies and TV shows of an accountant. they're generally accurate. So we try to be outside the box, and the story in my book goes through the real estate issue, self-directing your IRAs, hiring your family members, starting a small business, and a story of death and triumph and tragedy, and someone that loses their health care and what are their options?

It's really cool. So that's the theory of the story, and it's the book sold out in the first six months. It's gone to reprint. This will be the first tax season coming up in a month. that it's out and we're expecting great things. It's got a lot of traction. And so anybody that's interested in it, you can go to Amazon.com or my website, mark j.cola.com and just type in there what your CPA isn't telling you.

And by the time you get to isn't, my book will pop up. Awesome. The Insta search now. Right. Awesome. Well, congratulations on your success. So, you know, the names of the books, lawyers or liars, and what your CPA isn't telling you. and you'd mentioned you have a radio show.

How would someone, if they wanted to listen to that, where would they find that? Well, again, on my website, markj.com, you can get links to all my prior shows. And the show is every Tuesday at 11 a.m. Pacific. And if you want to go to the portal, it's an internet radio show where you can listen live or afterwards on the internet. It's blog talkradio.com, blog, BLLG, talk radio.com. Just type in Mark J. Kohler, and you'll see my page come up, and there we go. Awesome. Awesome.

So the question I always like to ask our guest, the last question is, Mark, what's in your future that you're really excited about? Wow. What am I really excited about? Well, I'm excited that I'm trying to finish up the audio for my book with a 2012 update for lawyers or liars, and that should be out by January. And I want to get my books on every possible audio site. The audiobooks, I think, is more and more where things are going. My books are both on Nick and Kindle and iPad already. but I want to get my books out there more readily available.

And so that's what I'm working on for January and really excited about that. Awesome. Awesome. Well, Mark, you did not disappoint, sir. Thank you for coming on the show. I know you're a really busy guy these days. You're balancing so many different things. I'm sure that this episode is going to inspire some new questions.

And, you know, would you be open to coming back sometime in the? future. Yes, please. And I would love to and thank you. And gosh, anybody that's interested in getting an appointment with me or learning more about us, you can easily just go to my website, Mark J. Kohler, K-O-H-L-E-R dot com, and just click on contact me and you can sign up for a little interview with me for 15 minutes one-on-one, and I'll get you set up with my team.

I still take new appointments all the time. I'm only out a week or two, so give me a call. Perfect. This would be a great time to do it, too, here at the end of the year, wouldn't it? Yeah. Well, Matt, thanks so much. You're welcome. Thank you.

Thank you. You've really delivered the goods, and I appreciate it. Thank you. You bet you. All right. We'll talk soon. Thank you. Okay.

That's it for today. If you want to learn more from Mark and his company, or perhaps you even want to hire Mark, you can find him and all the information you need at Mark J. Kohler.com. That's Mark, M-A-R-K, middle initialist, J, K-O-H-L-E-R dot com, Mark J-Coler.com. Or you can subscribe to his podcast, of which I wasn't even aware that he had one, but he does, and I just checked it out, and it's up to date and everything. Imagine that.

Just search the Mark Kohler Show at iTunes, and it'll pop right up. So, until next time, as a very wise person once said, the income tax has made liars out of more Americans than golf. The sad thing is nobody would have to lie if they just buy real estate. I mean, most Americans can virtually eliminate their tax liability with the purchase and holding of just a couple investment properties. And you can virtually eliminate that tax liability doing that honestly, ethically, morally, legally, and even with the government's consent, with the government's blessing even.

That's how the tax code is written. So consider Mark's advice today. Buy one investment property per year. To your success, I'm Matt Terrio, living the dream. Thank you for spending this time with Matt Terrio and the epic real estate investing podcast. When you have a moment, stop by iTunes to leave your comments and let us know what you think of the show.

And if you haven't done so already, get started investing today by visiting free real estate investing course.com. To access Matt's free course, how to do deals, no money required. Until next time. To your success. To your success. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.