Work with the man, myth and tax legend (Kevin): calendly.com/accountabilityinc/kai-andrew. If you want to join my Land Hacker program and community, talk to us first: calendly.com/kaiandrew/land-hacker-success-call
@thork347 Жыл бұрын
Had a great call with Kevin but he never followed up with anything engagement wise to solidify his services. I even followed up too
@floridaman4073 Жыл бұрын
This video is an extremely important one for the up and comers to take hold of and process. I am an older investor and have been doing these types of tactics for years. Do not sleep on this advice. I do not know Kai I just found him while searching other content but what he is stating here is extremely valuable.
@christianloya5238 Жыл бұрын
I hired Kevin to do my taxes and I’m definitely glad I did!
@KaiAndrew Жыл бұрын
Yeah, he’s an absolute rockstar when it comes to taxes. :)
@jonphaz Жыл бұрын
Same was the smoothest process I have had with an accountant
@kendrabonds6901 Жыл бұрын
@@KaiAndrew so he's able to act as ones trustee when it comes to certain acquisitions,debt cancellations etc.,...??
@tinachxx110 Жыл бұрын
Is he expensive?
@zackdreamcast Жыл бұрын
You don’t need to be a real estate investment professional if you’re short term rental operator (vs a long term rental operator) . Reason for this is that short term rental income/business is active income. As such your “losses” can be taken against your other active income including your W2 income
@CathyLovesRice Жыл бұрын
For people with a full time job, it’s extremely difficult to qualify as a real estate professional or material participation. If you do regular long term rental, it’s considered passive income/loss and can’t deduct your w2 income. Short term renal is the only realistic way to deduct your w2.
@tuanvu93595 ай бұрын
Good video with professional advice. Thank you Kai!
@MaroArmoni Жыл бұрын
Thank you so much Kai, this video was incredibly helpful and sincerely appreciate you sharing this with us 🙏🙏
@Dipper964 Жыл бұрын
I travel for work and have an Airbnb. My “travel work” and airbnb expenses are written off
@doctortmd Жыл бұрын
Love this! Can you do a follow up video on how to get financing after you successfully lower you AGI? Banks think I'm poor because the bonus depreciation wiped out my W2 income on paper!
@KaiAndrew Жыл бұрын
Yeah, most banks/lenders understand this strategy and will add back in the depreciation to your AGI.
@jimmyfun22 Жыл бұрын
Kai, your content is always top notch! Thank you for sharing all you've learned. This aspect of RE investing is so crucial and yet so undervalued and not understood by most! The more videos like this, the better for your entire audience 🙂
@michellej7734 Жыл бұрын
Having a Mom that work 30+ yrs in Government and my experience from working at the IRS, the true test is How many times has this guy been Audited??? These Tax strategies are pure theory until they are tested during an IRS Audit. RECEIPTS, PROOF???? There can be Tax savings but you can only right off a PERCENTAGE NOT THE FULL AMOUNT. Plus anyonebthay you hire if they make a mistake or the IRS Auditor feels their work does not comply with the tax law YOU ARE THE ONLY ONE THAT IS HELD RESPONSIBLE AND WILL OWE THE IRS
@kendrabonds6901 Жыл бұрын
What department did you work with the IRS? Why are you not with them anymore if you don't mind me asking?
@333dude333 Жыл бұрын
I would like to have a meeting with your tax strategist, but he's booked out till sometime next year. 😆😑🧐
@365greenhouse6 Жыл бұрын
Great content as always, thanks!!
@LuizSilva-hv3dx Жыл бұрын
Which A frames Cabin is more profitable? 3 bed rooms, 2 bedrooms? Small or big? Might be a good them for next video.
@Kirillforreal Жыл бұрын
dang looking like kevin a little too busy for new appts now! was really looking forward to it, any other ideas for people like em? really need my taxes done lol
@ThePilgrimsProcess Жыл бұрын
Great video, as always Kai! Don't suppose you have any resources for Canadians in real estate in the land hacker program?
@KaiAndrew Жыл бұрын
Hey there. Yep, loads. We have a few Canadians in the program right now.
@hallelujah55063 ай бұрын
So this wouldn’t work for a single person and not in Real estate??
@kylebecker5083 Жыл бұрын
Great stuff. Question. My wife’s Tiny House LLC also makes revenue (although the bonus depreciation would be more than the total annual revenue). Along with the depreciation expense, would I also need to claim my wife’s LLC’s revenue on my W2s?
@Iamjoeycross Жыл бұрын
How do I get in contact with Kevin outside of the free 20 minute consultation? No openings within the next 12 months or so. I don’t need a free talk, I need his services.
@stevensullivan242 Жыл бұрын
I love the irony of putting the Statue of Liberty in the Soviet Union corner! And great content!
@vkk3546 Жыл бұрын
I wonder if a tax pro is in any way in disadvantage to being a RE investor (to compare for example, an attorney can't/shouldn't defend a spouse in court). Congrats on all your work!
@MrRchou Жыл бұрын
Got it, basically write off the depreciation of rental properties
@KaiAndrew Жыл бұрын
Lol. A bit more to it than that. Did you miss the part about meeting the requirements of a ‘RE pro’? And the cost seg process?
@MrRchou Жыл бұрын
@@KaiAndrew I’m going to assume a “Re pro” is real estate professional. Got that, but isn’t accumulating income property by default make you one? I don’t own any rentals so you tha man. Don’t mind me big dog, you do you.
@dannykanchanarin4295 Жыл бұрын
So does that mean in 2027 people are SOL when it comes to tax depreciation on a property?
@KaiAndrew Жыл бұрын
No, it just means you’ll have to depreciate it over 27.5 or 39 years depending on the property type instead of all of it in your first year.
@roccobealino6372 Жыл бұрын
I am retired now and income is RMDs from IRAs. How can I avoid taxes on these RMDs?
@gracejustice2331 Жыл бұрын
Kai, you might want to say "legally lowering your tax liability" not "avoid taxes"
@Smootaxx Жыл бұрын
That better really be my name in your phone!!!
@KaiAndrew Жыл бұрын
Lol. Maybe some variation of that…
@willyhogan6374 Жыл бұрын
Thanks Kai! Would this still apply to me if I'm a 1099 employee?
@KaiAndrew Жыл бұрын
Yessir. As long as you meet the requirements.
@Hchris101 Жыл бұрын
New video
@nataliamoscow Жыл бұрын
If I qualify as a Real Estate professional, may I use this system to write off taxes only for short-term property rental or for long and midterm as well?
@Smootaxx Жыл бұрын
Long term as well!
@MikeHawk143 Жыл бұрын
Kai are you a property manager?
@martyor Жыл бұрын
Is there a max for LLC deductions? Does your business and rental have to be under an LLC?
@KaiAndrew Жыл бұрын
Nope to both.
@akmuratgurbangeldiyev4881 Жыл бұрын
I would appreciate if you add Turkish language to the subtitles, my friend.