Mastering Tax Strategies for Real Estate Investors with CPA Andy Farkas

Andy Farkas is a CPA and real estate tax strategist, and the founder of Farkas Tax Advisors—a fast-growing firm specializing in advanced tax planning for real estate investors and entrepreneurs. With deep expertise in cost segregation, bonus depreciation, and entity structuring, Andy helps clients legally reduce taxes, maximize deductions, and build long-term wealth.

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Farkas Tax Advisors inc.

Resources:

Section 461(l) Excess Business Loss Limitation

California Franchise Tax Board (FTB)

Net Investment Income Tax

IRS – S Corporation Election (Form 2553)

Notes:

00:00 Welcome to the CashFlow Quest Podcast!

01:00 Journey to Becoming a CPA

02:30 Exponential growth of Farkas Advisors

06:00 Tax planning for billionaires vs. millionaires

07:00 Understanding different forms of income

13:00 Real estate professional designation

17:30 Navigating passive and non-passive income

35:21 “Bonus depreciation coming back allows us to create massive losses and eliminate taxes for years.”

35:30 Recent tax legislation changes

41:00 Understanding tax credits and personal liability

42:00 California income and partnership elections

45:30 S-Corp vs LLC: which is better for your business?

55:00 Maximizing tax benefits with cost segregation

55:00 Strategic tax planning for high net worth individuals

58:30 The power of real estate investments

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Blake Comfort, Co-founder of Comfort Communities and Comfort Capital in 2008, embarked on a journey to acquire manufactured home communities, laying the foundation for the investment and management company we have today. In 2009, Comfort Communities acquired its first manufactured home community, and since then, the company has continued to expand, purchasing and managing numerous manufactured housing communities. Blake oversees all capital market functions, acquisitions, and deal sourcing for Comfort Communities and Comfort Capital. When he’s not working, Blake cherishes spending quality time with his wife and two young children and occasionally takes to the skies, flying around San Diego.

Jennifer Purcell, Co-founder of Comfort Communities and Comfort Capital, was raised in a real estate-loving household with her father being a general contractor and developer of over 4,000 units in San Diego County. Her mission is to change the perception of “Trailer Parks” and create exceptional living environments with top-notch service for residents. A San Diego State University graduate, Jennifer previously worked with R&V Management for their multi-family apartment portfolio at a leading global corporate housing company. Since 2009, she’s been instrumental in building Comfort Communities management team and fostering relationships with trusted investors and advisors, contributing to Comfort Capital’s success today. When she is not operating mobile home communities, she loves spending time outdoors, throwing the ball for her dog, and spending quality time with her husband and her two young children.