210. Due Diligence and the Importance of the Right Team with Alex Sonkin

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Show Notes
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Are you looking to minimize your taxes and gain a deeper understanding of the tax code? Do you want to navigate the complexities of tax with ease?

In this episode, we have Alex Sonkin, who will be sharing the key solution to help you achieve your goal of maximizing tax savings and gaining a comprehensive understanding of the tax code. Get ready to unlock the secrets to minimizing taxes and mastering the tax code on the Average Joe Finances Podcast.

In this episode:

Dive into intelligent tax planning strategies crafted for wealth preservation and proliferation.
Realize the unprecedented role of CPAs in devising tax strategies specifically tailored for real estate investors.
Get acquainted with the virtual family office model and its potential for benefiting individuals across varying economic stages.
Grasp the invaluable role of the Due Diligence Project in mitigating tax risks by promoting thorough due diligence.
Peer into the future of the accounting sector, with technology-led CPA firms and family offices in the virtual realm.

Key Moments:

00:03:07 - The Value of Tax Planning
00:06:32 - The Due Diligence Project
00:10:02 - Virtual Family Office Model
00:14:50 - Importance of Trusting CPAs
00:15:43 - Specializations in Professional Service
00:16:58 - Building a Network of Trusted Advisors
00:19:09 - Focus on Expertise and Outsourcing
00:28:00 - The Excitement of Referral Commissions
00:29:02 - Complexity of the Tax Code
00:30:13 - Paying Taxes the Right Way
00:33:14 - Joining the Due Diligence Project