Also the other problem is: all this is wealth generation; but the issue I take is, even as was expressed in the video - how does one get to enjoy the money they worked so hard to make? Ie you made the $600k, spent $300k on that 20% down property to buy it as an investment, you’re told if you don’t wan to get taxed on the other $300k you gotta invest that too, so then when does anything come to you to go and spend and have fun?
Wow, I had to watch this twice, great intel! no one gives specific tax strategies for free, most youtube chanels are all fluf and no or very little info. Respect!
#KarltonDennis SIR why wouldn't his COPE LLC roll up into a Family Trust? He's the Grantor, he has Grantees / beneficiaries, you could be his Trustee . That way the Trust pays the 'IRS Taxes at a much lower rate, and he owns nothing?" Making him effectively "suit proof."
LLC for active income flows into the s Corp management company Then s Corp and passive income LLC flow to the revocable trust This flows down to the 1040. Maybe he discussed this one off camera 📸....
Also after you get to the point where you have real estate properties that are creating depreciation write offs for you, you will also be able to refinance these properties after 2-5 yrs and pull money out of the asset (real estate properties) tax free 😉. Remember that properties typically go up in value as well as get paid down (principal value) each month. This is where you can decide to re finance the property and pull out cash if you want to spend it and have some fun or use that money for other investments.
A couple caveats to his rental depreciation - if you are not a real estate professional, long-term rentals do not offset w-2 wages. Short term rentals do. He skips a few of the details here and there that can have major implications if you do not work with a tax strategist and think you can do this on your own (sales pitches and broad strategy sessions rarely delve into the details)
This is a shell game that doesn't actually alleviate ANY tax burden. Yes the mngmt company adds places for writeoffs but it also adds costs that eat up the savings of addt writeoffs.
Forming a management group solves the conundrum that many of us have with multiple businesses. Thanks so much for filling in the gap that Robert Kiyosaki left for us to figure out✨️
This is definitely one of the most perfect tax strategies that I’ve ever seen. Refreshing to so how well it’s explained. Looking forward to working together
This strategy holds more value for high-income business owners. I'd like to see a strategy more aligned to high-income W2 employees/families that are just getting started using real estate as a wealth-building and tax saving method. Is that explained in another of his videos?
I would also like to know this. In the video he mentions "easier as a W2 employee" when talking about need for it to be long term rental or Airbnb. A previous video made it sound like this only worked (bonus/accelerated depreciation) if you were a Real Estate professional. Would really love to know how this can be made to work for people with primarily W2 income. Would buying the property under a real estate LLC be enough and since the gains/loses pass through to your personal income it still works out? What about offsetting capital gains from stocks or crypto?
@@JB-ko4rp If you’re a w-2 and don’t qualify as a real estate professional there’s a 25k limit on real estate losses that you then phase out of if you make too much. If you’re subject to the limit then the cost seg wouldn’t usually be a good idea
Great video but I need to mention as an Enrolled Agent the error about single member LLC. If you as a person are the only member of your LLC the IRS calls it a disregarded entity. Which means you will file form schedule C with your 1040 tax return. You will not receive a K-1.
@JG You are correct. This guy and his mother Karla Dennis are GIVING BAD ADVICE and HALF TRUTHS. He doesn't say after 3 - 5 yr cost seg is used up then ALL rental income becomes taxable. This is a VERY SHORT term "game". He needs to get himself a LOT more education before getting on a public forum like this.
Karlton, this was great! Thanks for the precise breakdown of how to think about setting up a business or businesses! You really seem to enjoy what you do and it translates into you being excited about teaching it! 💙💫👍🏾
You have to be very careful with real estate losses. If you can find a way to qualify as managing an active business/material participation, you may be able to offset income from other active sources (e.g. w-2). Airbnb is more likely to get you this result, but not guaranteed, especially if you hire someone to manage (then it will be limited to passive losses). There are a lot of details missing and more requirements to make sure real estate losses can actually offset other income with depreciation rather than just give you suspended losses to carryover
how do you propose he's going to qualify for REP with his other side businesses? That 750 hours when you are not in the real estate is very difficult. It is a high audit probability too. I'm glad you inserted the warning notice in the video.
Anyone else feel like he fell off on explaining the benefits of the parent cope llc company? Llc is still pass through, so the management fees that are income for the parent will still be taxed, so what are taxable benefits of the parent company other than management expenses (which were expenses that were independently documented in each llc prior to creating the parent)?
This was one of the best videos translating accounting to the business owner. Many Accountants that provide tax planning services speak above the business owner and their heads spin during these strategic meetings. Kudos to you, Karlton!
This video really got the gears spinning in my head. Such a new perspective to consider! This is awesome. Thanks for the great info here! New subscriber here 🙂
The only thing i don’t understand is wouldn’t the Management company have to declare the money that was transferred from the other LLC’s as income and it be a wash? Where does the deduction come from?
How do you qualify for cost segregation study? We have commercial buildings, do we qualify? And how do you start? Do you need to hire somebody special?
There are specialists to hire if you google them - make sure whoever you hire, if it's not a new purchase building, then you also need to file an accounting method change form (Form 3115) with your return or the cost seg can be reversed by the IRS. So try to find a specialist who also preps this form since many CPAs will mess it up and not file it properly.
Very well presented Karlton. One question: With an operational LLC that holds rentals or other cash flowing hard assets, and depreciation is being taken, when you exit a few years down the road (assuming no 1031), how do you deal with recapture on the depreciation that entity has taken?
my guess is you are stuck. it is like hotel California. either you lose by filing all those depreciation as capital gains during the selling or you keep it forever!
Imagine… Me learning this finally at 50. And I’ll say this much, I never liked Disneyland. But I sure wanted to place that felt like it. And it’s this. These are the kind of not necessarily videos but associate I’d like to have to be involved and discussions like this. I would be so silent and ears would be so big. and the fact that I’m understanding all this makes me happy. It’s been a long road Self studying. Now I have to find a way to make enough money to qualify forKarlton Dennis. It’s actually one of my goals.
Correct me if I am wrong, but I believe in a 1031 exchange you will carry over the adjusted basis in the property given up. Meaning you will not then be able to reup a cost segregate on the 1.9 million dollar new property received.
I doing well, but was getting ready to run into this issue in a year or 2, this helps so much, thank you EDIT. Cant believe this is free, this is crazy. I set a crazy goal for myself and this will allow me to do it. So thankful
And the rental losses are passive unless they're short term rentals so the passive loss wouldn't offset the business income unless you make a certain amount of adjusted gross income. The passive activity loss will most likely be carried over until you sell the rental.
Problem i see, unless ive been misinformed, you cannot open a business account for the operational businesses if they are owned or controlled by a holding/management company
I swear to God nobody is teaching in America like this the way you're doing this is most amazing strategist and also on CZcams because you will search the entire CZcams from top to bottom you will not find detailed explained tax strategy stuff like this ❗❗❗
Should the Manegment company be a single file LLC or can it be a multi member? Should the LLC own or manage the LLC’s. If own, what about the board member shareholders of those LLC’s to be managed?
Invaluable info!! My only question is, if my llc is already being taxed as an s corp and have payroll setup before forming this New Management company. How do I get around the payroll aspect that is required for a S corp? Do I setup the Management company as a contractor and pay that Management company thru my already setup payroll from the s corp? Or do I remove the s corp tax status from my 1st company and setup the Management company as the s corp? Sorry for having diarrhea of the mouth but I didn't know of any other way to simplify this question.
You need to be able to file as a real estate professional!! Major major mistake here. Should you invest passively with others YOU CANNOT USE THE REAL ESTATE TO WRITE OFF YOUE BUSINESS INCOME!! You must be actively managing and busy with the real estate!!!
There is a short term rental loophole that is used to get around that. That's why he specified AirBnB as the preferred way of renting. But I agree that it needed to be specified.
That’s what I was thinking too. He should be more specific. This comment should be at the top. My other question is how do you offset the management fees that the management company is making. I feel like that part was missed. Can the mgmt co own the property and then take the depr to offset the income?
@@jordansmn still not buying it....the entire strategy is tough, go and build a large portfolio of Airbnbs, and you will work yourself to death, it's not a great strategy for growth and passive....i would better figure out HOW to file as a RE pro and be done with it in a passive manner. Remember, this is being used for someone who is making loads of income and has multiple businesses...
@@davidm5818 You can get a property management company to handle all of the heavy lifting since, as you mentioned, this is for high net worth individuals. Nonetheless I do agree though, buying properties on an annual basis to avoid taxes seems excessive.
When using regular depreciation along with bonus depreciation does it create a dollar for dollar deduction? Also, If I were to write off $600K in the first year using a cost segregation study and bonus depreciation, what if I do not buy another property the next year? Last question, when doing a 1031 exchange is the current value of the property used to calculate the price of the next property I need to purchase to avoid taxes or is the original purchase price used? Thanks for all your video's, I've learned so much from you.
A lot of people need to take fed tax accounting because a lot of this stuff changes every year and also isn’t true most of what he says does work but still I can agree to disagree with a lot of what he’s saying
19:07 after you sell the property 1.9mil and let's say you buy the 2million property at only only 20 percent down does this mean that you get to keep the remaining money 💰 from the 1.9mil? which would be 1.5 million in "spending money"
It is very important that you do not mislead your followers what you're stating in this video is completely inaccurate passive income does not remove ordinary income as well there is limits to how much passive income can be taken depending on gross income that is made during the year as well cost segregation is an additional fee which is quite expensive and has to be done by somebody who is certified to do so . Although the video is very detailed and information it also very misleading
I have a property that I have been renting since 2009 and would like to set up as an LLC. Can I use bonus depreciation 100% of the property if I move the property to the LLC? I understand that I need to ensure the bank does not require the full note due.I plan on investing in more properties, such as Airb&Bs or short term rentals. Would it be smart to set up the "Holding Company" or "Management Company" to manage the Real estate LLC I want to create also?
My question after watching this is how do you maintain your day-to-day if you are not moving money from your operational LLC to the parent company to the end of your fiscal/tax year?? As a W2 employee??
Loved this but the other guy was annoying me! Standing up all in front of the camera, could hardly understand what he was saying like bruh just SIT DOWN & take notes, PLEASE!
Could the management company be a Living Trust? Or would there be an additional layer to add the Trust first then create the Management LLC underneath?
DAMN! my man is teaching right here thanks for the insight on all of this. very eye opening how long will cost segregation be around or is it the bonus depreciation that will go away eventually? hopefully it doesn't go away just lower the amount.
At the end of the year, would I just write my Management company a check from my lower LLCs and call it “Management Services” or something to that effect? And what about having a lower company being a C-Corp instead of an LLC? Any advantages?
First off, your awesome!!! Your changing my life financially in the best way. So thank you! I have 2 questions- I’m in texas, does the LLC to s-corp advice still apply since tx doesn’t have state tax? Question 2- do you have any recommendations for a tax person for me to hire in Houston? Of course I would want this person to be as knowledgeable as you or close to it. TIA!!! I’m a fan!
Hi my name is Angelo Smith I live in Cleveland Ohio I started the LLC and realize I don't need one how can I dissolve my LLC before even getting started
Also the other problem is: all this is wealth generation; but the issue I take is, even as was expressed in the video - how does one get to enjoy the money they worked so hard to make? Ie you made the $600k, spent $300k on that 20% down property to buy it as an investment, you’re told if you don’t wan to get taxed on the other $300k you gotta invest that too, so then when does anything come to you to go and spend and have fun?
Wow, I had to watch this twice, great intel! no one gives specific tax strategies for free, most youtube chanels are all fluf and no or very little info. Respect!
#KarltonDennis SIR why wouldn't his COPE LLC roll up into a Family Trust? He's the Grantor, he has Grantees / beneficiaries, you could be his Trustee . That way the Trust pays the 'IRS Taxes at a much lower rate, and he owns nothing?" Making him effectively "suit proof."
LLC for active income flows into the s Corp management company
Then s Corp and passive income LLC flow to the revocable trust
This flows down to the 1040.
Maybe he discussed this one off camera 📸....
I thought cost seg only offsets passive income? I was told my rental properties depreciation cannot be realized on my active business income.
Also after you get to the point where you have real estate properties that are creating depreciation write offs for you, you will also be able to refinance these properties after 2-5 yrs and pull money out of the asset (real estate properties) tax free 😉. Remember that properties typically go up in value as well as get paid down (principal value) each month. This is where you can decide to re finance the property and pull out cash if you want to spend it and have some fun or use that money for other investments.
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I PAID $3000 TO A LAWYER WHO EXPLAINED THIS WHOLE THING BUT YOU DID IT BETTER HERE IN THIS VIDEO!! THANK YOU!!
A couple caveats to his rental depreciation - if you are not a real estate professional, long-term rentals do not offset w-2 wages. Short term rentals do. He skips a few of the details here and there that can have major implications if you do not work with a tax strategist and think you can do this on your own (sales pitches and broad strategy sessions rarely delve into the details)
This is a shell game that doesn't actually alleviate ANY tax burden. Yes the mngmt company adds places for writeoffs but it also adds costs that eat up the savings of addt writeoffs.
Man, you are the GOAT. The best channel of tax strategy is this one
Forming a management group solves the conundrum that many of us have with multiple businesses. Thanks so much for filling in the gap that Robert Kiyosaki left for us to figure out✨️
Does Management group means holding company ?
@@IronMind23 essentially
Exactly
This is definitely one of the most perfect tax strategies that I’ve ever seen. Refreshing to so how well it’s explained. Looking forward to working together
How does ordinary income get offset with passive loss. I thought they couldn't offset each other?
This strategy holds more value for high-income business owners. I'd like to see a strategy more aligned to high-income W2 employees/families that are just getting started using real estate as a wealth-building and tax saving method. Is that explained in another of his videos?
I would also like to know this. In the video he mentions "easier as a W2 employee" when talking about need for it to be long term rental or Airbnb. A previous video made it sound like this only worked (bonus/accelerated depreciation) if you were a Real Estate professional.
Would really love to know how this can be made to work for people with primarily W2 income. Would buying the property under a real estate LLC be enough and since the gains/loses pass through to your personal income it still works out?
What about offsetting capital gains from stocks or crypto?
@@JB-ko4rp If you’re a w-2 and don’t qualify as a real estate professional there’s a 25k limit on real estate losses that you then phase out of if you make too much. If you’re subject to the limit then the cost seg wouldn’t usually be a good idea
Great video but I need to mention as an Enrolled Agent the error about single member LLC. If you as a person are the only member of your LLC the IRS calls it a disregarded entity. Which means you will file form schedule C with your 1040 tax return. You will not receive a K-1.
@JG You are correct. This guy and his mother Karla Dennis are GIVING BAD ADVICE and HALF TRUTHS.
He doesn't say after 3 - 5 yr cost seg is used up then ALL rental income becomes taxable. This is a VERY SHORT term "game".
He needs to get himself a LOT more education before getting on a public forum like this.
This is so Good! So tired of buying to offset my taxes. I need a consult!
Karlton, this was great! Thanks for the precise breakdown of how to think about setting up a business or businesses! You really seem to enjoy what you do and it translates into you being excited about teaching it! 💙💫👍🏾
Thanks Karlton for all of the generosity of info that you and your mom give on CZcams!
can you just create a LLC to purchase real estate to offset personal capital gains?
This was amazing even for those of us with smaller businesses and portfolios
Please explain why this has to be an Airbnb and not a long term rental
You have to be very careful with real estate losses. If you can find a way to qualify as managing an active business/material participation, you may be able to offset income from other active sources (e.g. w-2). Airbnb is more likely to get you this result, but not guaranteed, especially if you hire someone to manage (then it will be limited to passive losses). There are a lot of details missing and more requirements to make sure real estate losses can actually offset other income with depreciation rather than just give you suspended losses to carryover
Sir, how were you able to quickly divide 1,000,000 by 27.5???
You are a genius!😅
If you buy land instead can you use the same strategy, paying someone to cut the grass, and maintain the land? 🤔
how do you propose he's going to qualify for REP with his other side businesses? That 750 hours when you are not in the real estate is very difficult. It is a high audit probability too. I'm glad you inserted the warning notice in the video.
Can’t believe this is free thank you so much
Anyone else feel like he fell off on explaining the benefits of the parent cope llc company? Llc is still pass through, so the management fees that are income for the parent will still be taxed, so what are taxable benefits of the parent company other than management expenses (which were expenses that were independently documented in each llc prior to creating the parent)?
Karlton, instead of purchasing a property could I purchase a business to get the same or a similar tax deduction?
This was one of the best videos translating accounting to the business owner. Many Accountants that provide tax planning services speak above the business owner and their heads spin during these strategic meetings. Kudos to you, Karlton!
why does this not have more views, this is brilliant!!!
My guy Karlton sharing his wisdom!
My man! Appreciate you brother
Good info but i feel like a vid about making a management company in detail is something you haven't made yet karlton
This was actually a well explained video..wow. no fluff
Im loving the way he breakin this down
Why are the AirBnB’s preferable?
This video really got the gears spinning in my head. Such a new perspective to consider! This is awesome. Thanks for the great info here! New subscriber here 🙂
The only thing i don’t understand is wouldn’t the Management company have to declare the money that was transferred from the other LLC’s as income and it be a wash? Where does the deduction come from?
Yes, it would be a wash - almost all deductions create corresponding taxable income, and definitely income to a management company would be taxable
This has got to be the most informative video I think I have ever seen on CZcams . Incredible!!!! 🔥🔥🔥
broo 😮
Looked like a good video overall, but the audio was bad
How do you qualify for cost segregation study? We have commercial buildings, do we qualify? And how do you start? Do you need to hire somebody special?
There are specialists to hire if you google them - make sure whoever you hire, if it's not a new purchase building, then you also need to file an accounting method change form (Form 3115) with your return or the cost seg can be reversed by the IRS. So try to find a specialist who also preps this form since many CPAs will mess it up and not file it properly.
I would definitely buy an online course from this guy
minute 13:00 is where it is at: "Expense your investments".
Very well presented Karlton. One question: With an operational LLC that holds rentals or other cash flowing hard assets, and depreciation is being taken, when you exit a few years down the road (assuming no 1031), how do you deal with recapture on the depreciation that entity has taken?
my guess is you are stuck. it is like hotel California. either you lose by filing all those depreciation as capital gains during the selling or you keep it forever!
Imagine… Me learning this finally at 50. And I’ll say this much, I never liked Disneyland. But I sure wanted to place that felt like it. And it’s this. These are the kind of not necessarily videos but associate I’d like to have to be involved and discussions like this. I would be so silent and ears would be so big. and the fact that I’m understanding all this makes me happy. It’s been a long road Self studying. Now I have to find a way to make enough money to qualify forKarlton Dennis. It’s actually one of my goals.
Correct me if I am wrong, but I believe in a 1031 exchange you will carry over the adjusted basis in the property given up. Meaning you will not then be able to reup a cost segregate on the 1.9 million dollar new property received.
I doing well, but was getting ready to run into this issue in a year or 2, this helps so much, thank you
EDIT. Cant believe this is free, this is crazy. I set a crazy goal for myself and this will allow me to do it. So thankful
Wouldn't the parent LLC that is a management company still have to pay taxes on the income that daughter companies pay it?
Yup
And the rental losses are passive unless they're short term rentals so the passive loss wouldn't offset the business income unless you make a certain amount of adjusted gross income. The passive activity loss will most likely be carried over until you sell the rental.
Why moving money from LLC to management LLC is a tax deduction? I don’t get it
You had me at "what's a million divided by twenty seven and a half? "
Problem i see, unless ive been misinformed, you cannot open a business account for the operational businesses if they are owned or controlled by a holding/management company
I swear to God nobody is teaching in America like this the way you're doing this is most amazing strategist and also on CZcams because you will search the entire CZcams from top to bottom you will not find detailed explained tax strategy stuff like this ❗❗❗
👆👆
Should the Manegment company be a single file LLC or can it be a multi member? Should the LLC own or manage the LLC’s. If own, what about the board member shareholders of those LLC’s to be managed?
Invaluable info!! My only question is, if my llc is already being taxed as an s corp and have payroll setup before forming this New Management company. How do I get around the payroll aspect that is required for a S corp? Do I setup the Management company as a contractor and pay that Management company thru my already setup payroll from the s corp? Or do I remove the s corp tax status from my 1st company and setup the Management company as the s corp? Sorry for having diarrhea of the mouth but I didn't know of any other way to simplify this question.
You need to be able to file as a real estate professional!!
Major major mistake here.
Should you invest passively with others YOU CANNOT USE THE REAL ESTATE TO WRITE OFF YOUE BUSINESS INCOME!!
You must be actively managing and busy with the real estate!!!
There is a short term rental loophole that is used to get around that. That's why he specified AirBnB as the preferred way of renting. But I agree that it needed to be specified.
That’s what I was thinking too. He should be more specific. This comment should be at the top. My other question is how do you offset the management fees that the management company is making. I feel like that part was missed. Can the mgmt co own the property and then take the depr to offset the income?
👆👆
@@jordansmn still not buying it....the entire strategy is tough, go and build a large portfolio of Airbnbs, and you will work yourself to death, it's not a great strategy for growth and passive....i would better figure out HOW to file as a RE pro and be done with it in a passive manner. Remember, this is being used for someone who is making loads of income and has multiple businesses...
@@davidm5818 You can get a property management company to handle all of the heavy lifting since, as you mentioned, this is for high net worth individuals. Nonetheless I do agree though, buying properties on an annual basis to avoid taxes seems excessive.
Thank you for coming to my office and helping me put a fire game plan together !!!
When using regular depreciation along with bonus depreciation does it create a dollar for dollar deduction? Also, If I were to write off $600K in the first year using a cost segregation study and bonus depreciation, what if I do not buy another property the next year? Last question, when doing a 1031 exchange is the current value of the property used to calculate the price of the next property I need to purchase to avoid taxes or is the original purchase price used? Thanks for all your video's, I've learned so much from you.
Can each company fund and maximize retirement , and also reduce your taxable income?
A lot of people need to take fed tax accounting because a lot of this stuff changes every year and also isn’t true most of what he says does work but still I can agree to disagree with a lot of what he’s saying
19:07 after you sell the property 1.9mil and let's say you buy the 2million property at only only 20 percent down does this mean that you get to keep the remaining money 💰 from the 1.9mil? which would be 1.5 million in "spending money"
So, when the time comes (old age) to get out of the game, what do you do?
@KarltonDennis i heard bonus depreciation is going away.
Wife and I are planning on forming a LLC. We want to be 50/50, but would it be better to form a multi-member llc or single member llc being married?
Fire 🔥 information Thank you Karlton
It is very important that you do not mislead your followers what you're stating in this video is completely inaccurate passive income does not remove ordinary income as well there is limits to how much passive income can be taken depending on gross income that is made during the year as well cost segregation is an additional fee which is quite expensive and has to be done by somebody who is certified to do so . Although the video is very detailed and information it also very misleading
Can you time stamp and provide a source every time he is misleading? Because your comment alone doesn't have enough meat on the bone.
@@natetechrhe isn’t misleading at all. I use this strategy and pay very little taxes. I didn’t know about this until I found karltons videos.
I have a property that I have been renting since 2009 and would like to set up as an LLC. Can I use bonus depreciation 100% of the property if I move the property to the LLC? I understand that I need to ensure the bank does not require the full note due.I plan on investing in more properties, such as Airb&Bs or short term rentals. Would it be smart to set up the "Holding Company" or "Management Company" to manage the Real estate LLC I want to create also?
Gee's l wished l knew this over 15 years ago🤦🤦🤦
Dude THis is the best video on CZcams ..... You are gold.... I did not want this video to end
Darn a light bulb went off. Wow!!!
I have a two family home, I live in one and rent the other. How can I claim depreciation on that property?
You are an Angle for sharing this information.
how do you not pay taxes with the management LLC? Is real estate the only option once you get to the management llc?
The management company does pay tax. The deduction for the payment to the operating entity then creates taxable income on the management company.
This is insane, thank you for everything you do
You're absolutely AMAZING!! Do you help people in Texas?
this taught me more than college, and i'm still in college lol
This is the type of information that people pay HUNDREDS OF THOUSANDS DOLLARS for!
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What is typical on that bonus depreciation ? in this example I think u used 40% of 1.5mil
Bro. For the right person this is life changing. 🤯 it is to me.
Good video Karlton. Question - Which company would you recommend for opening up a Cash Balance Plan?
My question after watching this is how do you maintain your day-to-day if you are not moving money from your operational LLC to the parent company to the end of your fiscal/tax year?? As a W2 employee??
I want to know when are you coming to New York to do an event like this
Brother Karl Karlton you're a godsend!
Fantastic video good job 👍🏽!! Very helpful to the industry of today
Hey Karlton I like Wyoming too but what if I need a registered agent? How can I get one? I’m not in Wyoming.
There are companies that operate as registered agents, like Northwest Registered Agents. Lots of others like them.
@@taxleverage thank you
@@taxleverage I’m subscribing to your channel as well 🙏🏾
Loved this but the other guy was annoying me! Standing up all in front of the camera, could hardly understand what he was saying like bruh just SIT DOWN & take notes, PLEASE!
So how do you get out of the game in retirement? Or is this a legacy type game?
Is this Wesley Snipes' tax guy? Cause this shit def gonna land you in jail.
Facts! Learned this at a investment mastermind
Moving money to your holding company is a tax deduction and you cannot write off the land, but you can write off the building
Could the management company be a Living Trust? Or would there be an additional layer to add the Trust first then create the Management LLC underneath?
Karlton is a lefty like me 😀. I appreciate this valuable info to help us during tax season.
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Me,THREE!!!!!
Amazing Dude!!!
This is very informative info!
Thank you, your spot on.
Thank you!
I am glad I watch this game changer
DAMN! my man is teaching right here thanks for the insight on all of this.
very eye opening how long will cost segregation be around or is it the bonus depreciation that will go away eventually? hopefully it doesn't go away just lower the amount.
LITTERALLY EVERYTHING is deductible until them new 87,000 IRS agents come online
Woooooooow🔥🔥🔥I have so much to learn about real estate! Thank you for sharing your knowledge 🙏🏽 😊
At the end of the year, would I just write my Management company a check from my lower LLCs and call it “Management Services” or something to that effect? And what about having a lower company being a C-Corp instead of an LLC? Any advantages?
Yearly if your able to or monthly if you need the funds.
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C-Corp's are obligated to pay taxes twice; not only on dividends
S-Corps would work, but you got see if you qualify
Tired of hiring “fire.”
First off, your awesome!!! Your changing my life financially in the best way. So thank you! I have 2 questions- I’m in texas, does the LLC to s-corp advice still apply since tx doesn’t have state tax? Question 2- do you have any recommendations for a tax person for me to hire in Houston? Of course I would want this person to be as knowledgeable as you or close to it. TIA!!! I’m a fan!
How do you account for the income generated by the rental property? That can offset the deduction unless you are renting at a loss.
Hi my name is Angelo Smith I live in Cleveland Ohio I started the LLC and realize I don't need one how can I dissolve my LLC before even getting started
can the properties be in other countries ?