In this episode, Tait Duryea flies solo to spotlight a powerful tax strategy many high-income earners overlook: real estate professional status. Featuring Brandon Hall from Hall CPA, this episode breaks down a real tax court victory by a harbor pilot who leveraged a flexible W-2 job schedule to claim REP status and unlock massive tax savings. Discover the legal requirements, the importance of documentation, and how pilots are uniquely positioned to take advantage of this IRS loophole—a must-listen for anyone serious about turning real estate into real tax strategy.
Brandon Hall is a CPA and the founder of Hall CPA, a firm specializing in real estate tax strategy. Known for his deep understanding of IRS code and investor-focused guidance, Brandon walks through a landmark tax court case that underscores how full-time professionals, including pilots, can successfully claim real estate professional status.
Show notes:
(0:00) Intro
(01:13) History of passive activity rules
(02:49) Short-term rentals vs. REP loophole
(04:33) Why pilots are uniquely eligible
(05:29) REP for married couples explained
(06:49) Brandon Hall sets up the case study
(09:12) Mr. Miller's job and schedule details
(13:18) Proving material participation
(16:31) The grouping election mistake to avoid
(19:24) Outro
Connect with Brandon:
- https://bit.ly/HallCPA - Recommended CPA for real estate-focused tax strategy
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