Full 3 Day Agenda - Stop Guessing at Your K-1 - Critical Tax Moves Savvy Investors Make

Author

Vince Porter
March 22, 2025

April 8th - 11am - 12pm - Day 1 (60 minutes)

1. Welcome & Overview (5 minutes)

  • Introduction to Vince Porter , Porter & Company CPAs , and the goals of the series.

  • Housekeeping: Q&A is on Day 3 only, but the P&C Advisory Collective is open for immediate questions/discussions.

2. K-1 Basics (45 minutes)

  • Who receives a K-1 (LP vs. GP), why it matters.

  • Key lines: income, deductions, tracking basis, passive vs. active distinctions.

  • Can I file if I don’t have a K1? What happens if I file my return and get a K1 later? What do I do if I never get a K1 ?

  • I got a State K1 but I don’t live in that State ? What’s this mean?

  • Common pitfalls (e.g., misreporting passive/active income), plus a simple example.

  • If we have extra time here, we can do a deeper dive or show multiple sample K-1s.

3. Wrap-Up & Next Steps (10 minutes)

  • Summarize Day 1’s main takeaways.

  • Encourage participants to revisit the recording in the P&C Advisory Collective

  • Preview Day 2 topics (property sales, foreclosures, etc.).

April 9th - 11am - 12pm -Day 2 (60 minutes)

1. Recap & Introduction (5 minutes)

  • Quick refresher of Day 1’s highlights.

  • Remind everyone to post questions in the P&C Advisory Collective and come back on Day 3 for Q&A.

2. What Happens When a Property Sells? (25 minutes)

  • Overview: capital gains (short-term vs. long-term) and depreciation recapture.

  • Possible strategies (1031 exchanges) to reduce or defer taxes.

  • Simple numerical examples illustrating gains and recapture.

3. Foreclosures & Loan Workouts (20 minutes)

  • Foreclosure basics: triggers, process, and investor impact.

  • Loan workouts vs. foreclosures: forgiven debt, potential phantom income.

  • Mitigation strategies and real-world anecdotes.

4. Closing & Day 3 Preview (10 minutes)

  • Recap Day 2 content.

  • Encourage participants to continue discussions in the P&C Advisory Collective.

  • Tease Day 3 topics (Bonus Depreciation, Carried Interest, Vetting a GP, and final Q&A).

April 10th - 11am - 12pm -Day 3 (60 minutes)

Quick Recap & Housekeeping (5 minutes)

  • Summarize Day 2’s highlights.

  • Remind everyone this is the final day and live Q&A happens at the end.

Bonus Depreciation (10 minutes)

  • Is 100% Bonus Depreciation coming back ?

  • Practical strategies (cost segregation, timing acquisitions).

  • Impact on different property types (short-term rentals, multifamily, etc.).

Using Your Self-Directed Retirement Accounts: The Good, the Bad, and the Ugly (10 minutes)

  • How Self-Directed IRAs work and what they can invest in.

  • Major tax pitfalls: UDFI (Unrelated Debt-Financed Income) and UBIT (Unrelated Business Income Tax).

  • Strategies to handle or minimize these taxes.

How Do You Vet Your GP? (10 minutes)

  • Key criteria (track record, transparency, communication style).

  • Deal structure, capital calls, and exit strategies.

  • Red flags and best-practice questions for due diligence.

Carried Interest (10 minutes)

  • Definition & mechanics: how it differs from a typical profit split.

  • Tax considerations for GPs (holding period, potential legislative changes).

  • How it appears on a K-1, common pitfalls, and misconceptions.

Full Q&A & Closing (10 minutes)

  • Open floor for questions covering all three days (K-1s, property sales, foreclosures, bonus depreciation, self-directed IRAs, vetting GPs, carried interest, market insights).

  • Encourage ongoing engagement in the P&C Advisory Collective for deeper discussion.

  • Conclude with next steps and services your firm can provide.