Matt McDermott spent over a decade making money for some of Wall Streets biggest companies. Now he protects income for real estate investors.
About this episode
Matt McDermott shares insights on strategic tax planning and wealth preservation for real estate investors.
I sit down with Matt McDermott, CPA, the owner of South Jersey Tax Services and my personal accountant, for a masterclass in strategic tax planning, asset protection, and wealth preservation. Matt spent the early part of his career climbing the corporate ladder of the world's most recognizable financial institutions, including Deloitte, Merrill Lynch, and BlackRock, before pivoting to run his own highly successful advisory firm. In this episode, we explore how Matt scaled his business to over 1,200 clients by treating accounting as a process and efficiency problem rather than a sales problem. Matt breaks down his core wealth strategies, explaining why business owners must stop intentionally under-reporting revenue to avoid short-term tax bills, as it fundamentally cripples their long-term valuation and bank financing power. We dive deeply into high-yield real estate mechanisms, including cost segregation studies, 1031 exchanges, and how to utilize the IRS "Real Estate Professional" status to completely offset a spouse's heavy W-2 tax burden. Key Takeaways From This Episode: The Big Box Forensic Play: Matt recounts his time as a 22-year-old auditor uncovering a billion-dollar…
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