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Why the Tax Code is an Incentive Plan with Larry Pendleton

Apartment Investment

Once again, tax season has returned and this year adds even more complex due to COVID, CARES Act, and other relief efforts. For multifamily investors, apartments offer a tax shelter that allows them to reduce their tax liability. Some see this as a loophole, with President Biden claiming to close certain provisions. Others, like Larry Pendelton, view the tax code as an incentive plan to reward investors, developers, and others that provide quality housing for the public.


Larry is a real estate investor and CPA with a passion for adding value to fellow investors through tax consulting and accounting services. He is the co-founder of PC Financial Services and the Director of Finance for Rize Equity Holdings. As an investor and CPA, Larry understands the tax advantages of investing in apartments.


Larry shares how the tax code is an incentive plan and why it’s important to find a CPA that shares this view and is willing to help you take advantage of the code, not just make your filing easy. We discuss implications from the CARES Act, how paper losses work for your benefit, and policy discussions that could have a future impact.


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How to Leverage the Tax Code for Apartment Investing

Think of CPAs and Accountants like doctors, they are in the same field (financial) but specialize in different areas

Part of the tax-cutting jobs act was the bonus depreciation of going from 50% to 100% for any asset that depreciates less than 20 years.

The tax tail should not be wagging the investment dog.


Partner: Download our Sample Deal Package


Bullseye Round:


Apparent Failure: I tried to do my first flip by myself and was not utilizing the people around me to balance out my weaknesses. The experience taught me to recognize my weaknesses and leverage the skills of my partners.


Digital Resource:



Most Recommended Book:

Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork (Dan Sullivan)


Daily Habit:

5 – 10 morning meditation and workout


Current Curiosity:

Where the country is going from a societal standpoint


Wish I Knew When I Was Starting Out:

That I don’t have to do it by myself.


Best Place to Grab a Bite in Norfolk, Virginia

Croaker’s Spot


Get in Touch with Larry:



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