For those looking to branch out from Wall Street to something near the corner of Elm Street and Summit Avenue, Motley Fool Answers cohosts Alison Southwick and Robert Brokamp have invited a special guest to join them for this podcast: Thomas Castelli, a tax strategist with The Real Estate CPA, who will take them and their listeners on an exploratory ramble through the world of real estate investing. Between depreciation, 1031 exchanges, and other nifty tax advantages, you can earn a lot of profit from your properties without paying much to the federal government. You love it! You love talking about taxes, so I am going to lean back a little bit and let Bro lean in a bit more to talk about some of the tax benefits of investing in real estate. Thomas Castelli: A lot of people consider real estate as what they call “Tax-advantaged” income and that really comes from depreciation. Some people will say, “What if I just don’t take depreciation? Do I have to pay that tax?” The IRS will assume that you did take the depreciation and charge you that tax anyway, so you’re better off taking it. Brokamp: That’s basically getting a tax break along the way, but then there’s the tax break you can get when you sell the property, otherwise known as 1031 exchanges. when] investing in these opportunity zones through this opportunity fund, you have these tax incentives.