Real Estate Investing Mastery Podcast

This was an interesting and vulnerable episode for me to record, and I hope you can learn from my mistakes. I’ve been nervous to let you all in on this knowledge, but I just paid off a $520,000 federal tax lien. Yep. You read that right. I just paid it off and I want to share my experience with you and tell you just how got myself into this situation, and more importantly, how I got myself out of it.Many of you know I quit my job in 2009 to focus on real estate. Taxes are very different when you are your own boss. From 2009 to 2012 or 2013, we had adoption tax credits and tax write-offs we could apply. Starting in 2012 or 2013, things shifted a bit for us. I started making more money and our adoption tax credit and write-offs ran out.At this time, I was hit with a $60,000- or $70,000-dollar bill. To say I was shocked would be an understatement. The next year I owed $120,000 in taxes. Whew. The more money I made, the bigger the tax hole grew. At this point a good friend of mine pointed out that I was starting