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Brian Boyd

๐Ÿ‘ค Speaker
503 total appearances

Appearances Over Time

Podcast Appearances

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

Yeah.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

And so they reward us for that.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

And that's everywhere from the bonus depreciation you see under Section 168K to the expensing under 179 to the tax deductions under 162 to the interest deductions under 163.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

You know, there is so much in the tax code that really focuses on real estate and

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

And they make it easy for you.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

Take, for example, Section 8 housing.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

I kind of have a passion for Section 8 housing because we do have a dearth of real estate in the country that is affordable.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

And so Section 8 is a program out there that will pay your rent for you while you're trying to better yourself and get out of that situation.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

So, so many people...

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

look at Section 8 and they turn their nose up to it.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

But at the same time, our government, our tax code has incentivized providing affordable housing.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

I think there are actually credits out there available.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

And for those listeners out there, a credit versus a deduction, we're talking apples and oranges.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

A credit is like a dollar for dollar reduction of your liability.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

A deduction is a percentage off of your gross income that then generates your liability.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

You always want credits if you can get them.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

Deductions are great to have, but remember, you're only getting that deduction at a percentage.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

A credit, that's a whole other world.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

It changes your tax profile.

Wake Up to Wealth
Maximize Wealth: Inside Tips from Tax Attorney Brian Boyd

And quite frankly, if they're going to offer you credits, for example, in affordable housing, and you say, let's say you do affordable housing in a qualified opportunity zone.