Mark Perlberg, CPA, Rey Trevino, Oil Executive, and Stu Turley discuss the looming tax season. Several key points from the discussion revolve around tax planning and the downward-trending real estate market.
This was a fun live podcast from The Permian Basin International Oil Show, with Mark covering from his office in Georgia. I have had the opportunity to visit with several of Mark’s clients and personally hear their success stories of having a great CPA. A great CPA in your corner is critical throughout the year, not just in tax season. Mark posted on several of his podcasts very important tax and financial planning tips and tricks. One key thing I picked up is questions to ask your tax professional, and if they are not working with you, get a new CPA. That is very good advice.
0:03 Introduction
02:24 – Opportunities for Tax Deductions: Rates are up, so profits on real estate are down; check depreciation, and deals are more challenging to find due to interest rates. 05:08 Truck deductions, when?
06:46 Entrepreneurs making over a quarter million or a combined income of over half a million may overpay in taxes and need a new CPA.
09:18 1031 Exchanges are critical, and some oil and gas investments may qualify.
12:01 Profitability of the tax treatment
Please get in touch with Mark Perlberg for any questions at https://www.linkedin.com/in/markperlbergcpa/ and https://www.markperlbergcpa.com/
Follow Rey Trevino on The Crude Truth and His LinkedIn Here: https://www.linkedin.com/in/reytrevinoiii/
Contact Stu at questions@energynewsbeat.com for a free 1031 exchange e-book.
The full Transcript will be uploaded shortly.
