Mark Patten, CPA and Mandy Thiebaud, CPA of McKinnon Patten & Associates discuss with Old Capital Podcast how earned income and passive income are treated by the IRS, capitalizing versus expensing replacements & repairs, and why owning real estate is more than just a return on your investment. Find out about 1031 exchanges, like-kind exchanges as well as cost segregation and how it can benefit your real estate investment.

FAMILY BUSINESS SUCCESSION PLANNING: SECURING YOUR LEGACY FOR FUTURE GENERATIONS
When you’ve spent decades building a successful family business, guaranteeing its continued prosperity beyond your leadership is crucial. Yet, many business owners put off succession