Episode 141: The Wealth Moves Medical School Skipped

Episode Summary: Welcome back to the Luxury Rental Doctor Podcast! 🎧 Medical school prepared you to care for others — but not to protect your income from the IRS. In this episode, Dr. Rachel shares the five most powerful real estate tax strategies that high-income professionals can start using today to build long-term wealth, even with a jam-packed schedule. These are the same moves the wealthy have used for decades — and now it’s your turn. Whether you already own property or are just starting to explore the idea of real estate, this episode will give you the roadmap to stop losing your hard-earned money to taxes and start planning with intention for 2025 and beyond. 💡 Key Takeaways:Section 121: How to pocket up to $500K tax-free from selling your home1031 Exchange: Roll profits into a better property — no capital gains dueSTR Loophole + Depreciation: Offset your W2 income legallyREPS (Real Estate Professional Status): A game-changer for your spouseSelf-Directed IRA: Use your retirement funds to buy real estate, tax-deferredBONUS: Augusta Rule + Income shifting = more savings 🕒 Topics Covered [00:02:00] Why doctors feel broke despite high income [00:03:00] Strategy 1: Primary Home Tax Exclusion (Section 121) [00:06:00] Strategy 2: 1031 Exchange and growing your empire [00:09:00] Strategy 3: Short-Term Rental Tax Loophole + Depreciation [00:12:00] Strategy 4: REPS for spouses — how to qualify [00:15:00] Strategy 5: SDIRA investing and tax-deferred growth [00:18:00] Extra Strategies: Income shifting and the Augusta Rule [00:19:00] Final reflections and next steps 📚 Resources Mentioned:Learn more about REPS from Tom Castelli & Brandon Hall (Real Estate CPA)Dave Foster — 1031 Exchange expert + faculty contributorMid-Term & Short-Term Rentals Coaching: https://www.shorttermgems.com/mtr 🎯 Actionable Steps:Identify which of the 5 strategies is the lowest lift for you in 2025Set a meeting with your CPA or tax strategist ASAPExplore MTR/STR investing for serious tax advantagesStart income-shifting with your kids or spouse (legally!)Share this episode with a colleague so no one gets left behind! 🎁 FREE RESOURCESDownload the "75 Gems" Training: https://www.shorttermgems.com/75gemsJoin Our Facebook Community: https://www.facebook.com/groups/422973842093365Follow on Instagram: https://www.instagram.com/short.term.gemsBook a Strategy Call: https://www.shorttermgems.com/bookPodcast Home: https://www.shorttermgems.com/podcast 💬 Leave a review with your thoughts, tag @short.term.gems on IG with your takeaways, and don’t forget to subscribe for more real estate + wealth strategies each week! Let’s get these IRS-proof wealth moves in motion! 💪🏾💃🏾