How to REDUCE Your Income Taxes Legally...Using Real Estate

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If you're a typical W-2 employee, you'll notice quickly that there are not many tax write-offs you can do every year. Same even goes for business owners! It wasn't until later in my career that I realized real estate has an immense effect my tax savings ever year. I wanted to share the information I know about having rental property on my tax return and to save you the time that I spent so many years looking for an answer to! Let's discuss: How to REDUCE Your W2 Income Taxes Legally...Using Real Estate
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#taxes #taxfreeliving #taxexpert #taxreduction #llc

[@aegislocksmithUSA]

Every single video I've watched so far, you were able to enlighten me with actual and practical ideas. Talking about Value! Thank you!

[@tonymorales5106]

Lovee the info...Im interested on learning more...!!!

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@blackl1steddrums]

Thanks, I depreciate you 💘

[@joseleandrogobea5164]

Can I use depreciation on a property that had been bought through seller financing?

[@charlotia]

Thank you ❤ But what if a small landlord with one apartment in a duplex hasn’t a mortgage Is there a different strategy

[@mathewhenry36]

Would I be able to use the depreciation for my rental property if the property is under my LLC?

[@alucard2551]

Thanks 🙏

[@wsmaga]

Awesome info.

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@victorespino5650]

Great job

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@bonngure5208]

Karlton you are the best . I am a full time RE agent and You saved me a lot of money in taxes.

[@user-dj4ft9wq3k]

Hi..I have one question . In a year I pay around 12k taxes as a full time employee working for a company. Can I get tax deductions if I buy a rental property and repair it?

Great information !!!

[@austinparker5155]

Does Air BnB of one bedroom in your primary residence count ?

[@rocioprice7929]

If I refinance my rental to get cash to invest in another property, would I be able to deduct from my taxes the interest pay of the new mortgage?

[@courtsidggyuhhg]

Great video man loved the info

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@EmilyP17]

Love this channel! Thank you

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@cuttinedge5129]

Do you do taxes or recommend someone that knows these strategies?

[@rondabolton13]

So do a person have to b makin more than $150,000 to benefit from real estate tax privileges?

[@tajuanabrewster3163]

Hey can you write off the depreciation of a car. And would this be a cheaper way to write off depreciation?

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@CITYBOY5950]

Good info 👍🏾

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@fernandor9640]

Bros dropping gems

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@ronhau1542]

Ray!

[@cameronmanning8606]

Great advice

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@edna5503]

Can you use this strategy to a rental DADU?

[@donlutes8360]

Can I get the same rental deductions if I rent my home as a vacation rental?

[@TopNaachDanceCo1]

Incredibly informational. You are a boss! Thank you

[@rareseason]

Excellent presentation

[@aparadaeessa]

Should I buy a rental property every year then write off 350k worth of w2 income?

[@ivanw8633]

I have the same question, can anyone answer this?

[@chrislagazo730]

What about if you’re house hacking and you are renting part of your primary residence? What would be the best option for claiming your rental income and writing off all the expenses associated with my rental?

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@davidbarrera4298]

im wondering the same thing

[@davidbarrera4298]

Let me know if you found any information on this situation thanks

[@Gamma_Labs]

You'll have to separate it by sq footage. What % of their room makes up the total sq footage and then proceed to deduct that same % by utilities, depreciation etc. KD can chime in but that's how I'd do it. If it's long term, it's a schedule E, if it's less than 7 day turnover or air bnb then it can be a schedule C

[@davidbarrera4298]

@@Gamma_Labs Makes total sense. Thank you for the advise. I appreciate it

[@erindleka5430]

How do i contact your office

[@whatsapchat-5890]

👆👆👆

[@elvis0609]

Amazing 👌🏽👌🏽😏

[@Steven-vi5nb]

Is there still depreciation recapture if you claim accelerated depreciation but don't sell the property for 27.5 years?

[@victorespino5650]

Why would you recapture if you didn't sell. You only recapture on the sale.

[@Steven-vi5nb]

@@victorespino5650 Yeah, you sell after 27.5 years.

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@chilll973]

Dude your a beast !!!!

[@mlbonfox8199]

Don’t do it folks; u never mess the irs They always win

[@jharris8955]

I'd like to ask a community question please. I'm starting a pressure washing business. I've seen videos on starting an LLC and an S-corp and I'm a bit unsure as to how to proceed. I need to get an EIN number but the site asks if I want an LLC or an S-corp amongst other entities. Can you suggest one or the other or both. Thank you

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@ashdb4157]

LLC

[@jharris8955]

@@ashdb4157 Thank you

[@alexnjoroge9333]

I was advised to get an llc first because you can always turn it to an s-corp later if you’re making enough money while you can’t go from an s corp to llc.

[@jharris8955]

@@alexnjoroge9333 Thank you

[@vans881]

Great video. Can you cover how to make this tax plan work on a S Corp for a partnership set up?

[@marcosmunguia2835]

What I can contact

[@ew805]

But ... if your modified AGI exceeds certain amount, you can't deduct passive loss, unless certain exception applies to you.

[@whatsapchat-5890]

👆👆👆

[@JC-ly8pz]

He explains that

[@Nnnqqq689]

Hi I wonder if we keep reporting rental loss would it trigger audit?

[@wcisean]

Just wondering what part of voluntarily, do people not understand? Funny when they don't even know what income is ,not your paycheck!

[@THATSWING]

Hopes n dreams of selling realty i might as well start as an realty agent!

[@wsmaga]

It’s better to just be a real estate investor.

[@EmilyP17]

You truly are “the man”! Thanks

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@kirkl0766]

RE professional IS a very hard to get to. IRS will fight it. Be very careful with his bullet proof claims.

[@jhuilar]

Watch until then end where he recommends STRs not being a RE professional

[@robbiemorgan2062]

Can I continue to depreciate the same property year over year to pay zero tax with my W2 job or do I have to buy a new property every year in order to keep it going?

[@mavenmarket4939]

From watching many of his videos, you will have a to buy a new property every yr.

[@ayeejayyyy]

11:00

[@ayeejayyyy]

Short term rentals

[@HerbertHarris-xk5me]

If I'm retired, but still buying stock with MINISTRY income as a pastor, how does the tax code apply to me. Also, I". a home owner and planning to start renting out my home via Airbnb, etc?

[@luisortiz15]

I would like to be your client.

[@bennyblaze4571]

How will this apply to a condo?

[@christianfiguroa7147]

There should be way more write off for w2 employees there putting in so much work so people can live comfortably. Can you get to the point and helpful details faster ahaha jk. Is there a face book group with testimonies of people living this plan?

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@innerscorecard9433]

Awesome info. Are realtors considered real estate professionals?

[@ogpapafan8552]

First

[@user-ef9si8ob2t]

Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️

[@blacklitstl]

The percentage of ppl who make less than 100k is much higher, I understand you're not in that bracket. But may consider curating videos to the bigger audience

[@marcclark4532]

PEOPLE PLEASE!!! IF YOU SEE AN ADVERTISEMENT ABOUT INVESTING BY REFERRAL IN ANY COMMENT SECTION (DONT FALL FOR IT) ITS A SCAM!!!! AND YOURE SMARTER THAN THAT