Top Mistakes Physician Millionaires Make with Brandon Hall & Thomas Castelli [Limitless MD, Episode 101]

Increasing your income without increasing the taxes that you have to pay is possible. And my two special guests on today’s episode explain precisely how to do it. They are Brandon Hall and Thomas Castelli, CPAs and experts in tax efficiency.
Brandon Hall is the Managing Partner at The Real Estate CPA. His area of focus is tax planning, and he owns more than 24 units in real estate. His company is changing the playbook for entrepreneurs and real estate investors across the country by finding them tax efficiency and tailored tax strategies. My other guest, Thomas Castelli, is a Partner at The Real Estate CPA and also focuses on tax planning. Thomas owns an 82-unit apartment building and has Real Estate Financial Modeling certifications. These guys are the real deal.
These are some of the topics covered in the episode:
- Increasing your income without paying more taxes
- Going from a W2 to a 1099 or a K1 as a physician
- Achieving tax efficiency with short-term rentals
- Doing your due diligence in oil and gas investing
- Role of syndication in real estate investing
This episode is about helping physicians navigate the complex world of taxes and find ways to be more tax efficient. We talked about many issues, including mistakes made by doctors when investing in real estate and the advantages of multifamily investing. Tune in to learn how to make the most of your real estate investments and minimize your tax liability.
“The cashflow needs to cover the bills and give me a return. That way, any appreciation is not something that I can count on, but man, if it runs up, I’m going to try to take as much advantage of that as I can.” – Brandon Hall
In This Episode:
00:00 Welcome back to another episode of the Limitless MD podcast
02:30 Changing from mainstream CPA to following their own path
07:46 Tax challenges experienced by physicians
09:56 Increasing your income without paying more taxes
13:09 Investing in real estate is a hedge against inflation
14:40 Going from a W2 to a 1099 or a K1 as a physician
20:53 Achieving tax efficiency with short-term rentals
25:06 Doing due diligence in oil and gas investing
32:01 Accounting patterns seen in successful clients
35:29 Helping a billion people to become a billionaire
37:43 Investing in big real estate thanks to syndication
Resources Mentioned:
– Bigger Pockets
– The Short-Term Rental Tax Course
Resources:
– Join our Free community of high-performing physicians: the Physician Wealth Accelerator
– https://vikramraya.com/programs/
– Sign up to my email list
– Apply to work with Vik and book a clarity call here
– Group Coaching Now Open! Apply Here
Connect with Vikram:
– Website: https://vikramraya.com/
– Instagram: https://www.instagram.com/vikramraya/
– Facebook: https://www.facebook.com/Vikramrayamd
– LinkedIn: http://www.linkedin.com/in/vikramraya/
– YouTube: https://www.youtube.com/channel/UCdq9M-kD0L2hy1UlfOK-hwQ
Connect with Brandon Hall:
– Website – https://www.therealestatecpa.com/
– Email – brandon.hall@hallcpallc.com
Connect with Thomas Castelli:
– Website – https://www.therealestatecpa.com/
– LinkedIn – https://www.linkedin.com/in/thomascastelli/
Special Thank You to Music Provided by Music Library https://soundcloud.com/music-library-non-copyrighted-sounds/300-violin-orchestra-jorge-quintero-copyright-and-royalty-free