How Big Earners Use Real Estate to Reduce Taxes (Tax Loopholes Exposed)

[@LYFEAccounting]

If you want to work with Sherman directly to get a tax plan guaranteed to reduce your taxes, apply here: mycpacoach.com/contact/ (Sherman only has 2 client seats remaining for May)

[@eriklim310]

was dividing the whole house cost by 27.5 years a simplified calculation b/c don't you have to split between land and building improvement first?

[@madstarr2]

Great info, but what if you don't want to own and/or manage rental properties, short or long term. Can you gain any tax credits or deductions by investing in REITS or RE crowdfunding?

[@LYFEAccounting]

REITS, hardly. RE crowdfunding, absolutely... if you have ownership in the fund.

[@EM-fz3hf]

I have a few questions. Can I take income I make from wholesaling & wholetailing real estate, & invest most of it into a new Ecommerce brand (other than what I pay myself), to pay little to no taxes? I know I'd be able to take that money & invest in properties to avoid taxes, but I'm not trying to do that quite yet & I'd rather invest that money into my brand. Is there a way to set that up or any loopholes that I'd get similar results? Let's say I make $600k from closing deals, pay myself $100k & put the rest into my Ecommerce brand. I still plan on buying properties later on, but my main focus is to keep wholesaling/wholetailing & launch my brand before, or by the end of the tax year. Is there a way to not have to pay taxes this way? Hopefully this makes sense. Thanks!

[@SpontaneousPiano]

If I buy a residential property at the very end of the year, let's say December 15th, payed $1,500,000 for it, then I'd lower my taxable income for that first year by 54,545 since there wouldn't be any income received on that property yet?

[@Akeem__]

Hi I believe it’s prorated so you wouldn’t get the full 54k to offset your tax liability

[@karenwhite445]

Depreciation #mileage #repairs #managementfees 😊

[@Daddyrican2010]

Great content I will be calling you soon

[@LYFEAccounting]

Thanks, Sherman has a couple of client seats left for May before he fills up. You can apply here: mycpacoach.com/contact/

[@Kensingtonhawk]

Can you make a video on the employee retention credit?

[@BornRiders]

For everyone’s knowledge, the calculation Sherman used is incorrect, it’s actually the price of the property minus the value of the land. No I’m not a CPA, but Sherman let’s get it right!$