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Summary
Michael Chang outlines seven steps to build wealth tax efficiently using real estate, emphasizing moderate leverage, cost segregation and depreciation, using STRs, 1031 exchanges, stepping up the basis upon passing, and educating heirs. This strategy is geared towards building real estate portfolios while minimizing taxes.
More from Regulations & Compliance
Arizona Rep. Bliss's bill regarding short-term rentals has passed, signaling potential changes to the regulatory landscape for hosts in the state. This legislative development could impact operational requirements and potentially the profitability of short-term rental businesses within Arizona. Hosts should stay informed about the specifics to ensure compliance.
Annapolis, MD, is experiencing a surge in short-term rental license applications, indicating increased interest in the STR market. This rise follows efforts to improve compliance with local regulations. Hosts should familiarize themselves with new permit requirements to avoid potential penalties and ensure smooth operations.
This article discusses the construction of more rental homes near transit in Burnaby. The focus is on increasing housing supply near public transportation. While specific STR implications are not detailed, it implies a changing landscape for residential real estate and potentially offers insights into future housing trends that may affect hosts in areas around Burnaby.
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