Episode 746
CPA Reveals Top Tax Mistakes Real Estate Investors Make | George Dimov
George Dimov, CPA, shares the biggest tax mistakes real estate investors make, why proactive planning matters, and how to build smarter portfolios.
In this episode of RealDealChat, Jack sits down with George Dimov, CPA and founder of DimovTax.com, to discuss proactive tax planning, common mistakes investors make, and why accounting + real estate go hand in hand.
George shares his journey from immigrant beginnings to building a tax practice that serves thousands of clients nationwide. He explains why he invests heavily in real estate himself, how tax strategies like cost segregation and 1031 exchanges really work, and why many accountants fail to guide clients beyond tax season.
Here’s what you’ll learn in this conversation:
- The biggest lie real estate investors tell themselves about appreciation
- Why many accountants don’t help with tax planning year-round
- Common investor mistakes: emotional purchases & ignoring due diligence
- How CPAs view real estate vs other asset classes
- The hidden risks of ignoring property management in rentals
- Why proactive planning in July beats rushing in April
- Three underutilized tax strategies for small business owners & investors
- The truth about short-term rentals, real estate professional status & audits
- How to pick the right business structure (LLC, S-Corp, C-Corp)
- Why AI won’t replace accountants but will make relationships more important
📌 Learn more at DimovTax.com
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Timestamps
00:00 – Why accountants love real estate as an asset class
01:00 – George’s background & immigrant story
03:00 – From back-office accounting to CPA entrepreneur
04:00 – Why real estate was his first personal investment
06:00 – The conservative nature of accountants & real estate investing
07:00 – Biggest challenges: property management & finding reliable help
08:00 – Common investor tax challenges explained
10:00 – Why most clients wait until tax season (and why that’s too late)
12:00 – Inside scoop: why many accountants don’t do planning
14:00 – The Go-Giver mindset & educating clients proactively
16:00 – Three underutilized tax strategies for business owners
19:00 – Balancing tax savings vs audit risk
21:00 – Short-term rentals & real estate professional rules
23:00 – Why most tax tips on social media are dangerous
24:00 – The importance of licensed pros with real estate expertise
25:00 – George’s biggest business mistake & lessons learned
28:00 – AI vs accountants: why human touch matters more than ever
30:00 – Rapid fire: lies, advice, books & time-saving tools
#RealEstateInvesting #TaxStrategy #CPAAdvice #DimovTax #RealEstateTaxes #PassiveIncome #RealDealChat #CostSegregation #1031Exchange #ShortTermRentals #BusinessStructure #ProactiveTaxPlanning #RealEstateAccounting #GenerationalWealth #AIAndAccounting
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