I have an electrical installations business, what would be the best way to buy realestate? Reinvest the income as a down payment and take a loan to buy realestate?
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?
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?
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
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?
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
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.
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?
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?
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
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
![How to Use Rental Losses to OFFSET W2 Taxes! [Part 1]](http://i.ytimg.com/vi/1a38vrvO-ko/mqdefault.jpg)
![How to Use Rental Losses to OFFSET W2 Taxes! [Part 1]](/img/tr.png)
You can get a home loan to include a VA loan without using taxes. It's not actually a requirement. I got a VA loan without using taxes
Karlton you are the best . I am a full time RE agent and You saved me a lot of money in taxes.
Every single video I've watched so far, you were able to enlighten me with actual and practical ideas. Talking about Value! Thank you!
Can I use depreciation on a property that had been bought through seller financing?
I have an electrical installations business, what would be the best way to buy realestate? Reinvest the income as a down payment and take a loan to buy realestate?
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?
Thank you ❤
But what if a small landlord with one apartment in a duplex hasn’t a mortgage
Is there a different strategy
What tax accountant would you recommend in the Atlanta area? Wanting to buy our first rental.
Do you do taxes or recommend someone that knows these strategies?
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?
Should I buy a rental property every year then write off 350k worth of w2 income?
I have the same question, can anyone answer this?
Would I be able to use the depreciation for my rental property if the property is under my LLC?
Bros dropping gems
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Don’t do it folks; u never mess the irs
They always win
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?
Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️
im wondering the same thing
Let me know if you found any information on this situation thanks
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
@@Gamma_Labs Makes total sense. Thank you for the advise. I appreciate it
So do a person have to b makin more than $150,000 to benefit from real estate tax privileges?
Thanks, I depreciate you 💘
Incredibly informational. You are a boss! Thank you
Love this channel! Thank you
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Does Air BnB of one bedroom in your primary residence count ?
Lovee the info...Im interested on learning more...!!!
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But ... if your modified AGI exceeds certain amount, you can't deduct passive loss, unless certain exception applies to you.
👆👆👆
He explains that
Thanks 🙏
Hey can you write off the depreciation of a car. And would this be a cheaper way to write off depreciation?
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Just wondering what part of voluntarily, do people not understand? Funny when they don't even know what income is ,not your paycheck!
Great information !!!
Great video man loved the info
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Is there still depreciation recapture if you claim accelerated depreciation but don't sell the property for 27.5 years?
Why would you recapture if you didn't sell. You only recapture on the sale.
@@victorespino5650 Yeah, you sell after 27.5 years.
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Awesome info.
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RE professional IS a very hard to get to. IRS will fight it. Be very careful with his bullet proof claims.
Watch until then end where he recommends STRs not being a RE professional
Great job
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Great video. Can you cover how to make this tax plan work on a S Corp for a partnership set up?
Ray!
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?
Can I get the same rental deductions if I rent my home as a vacation rental?
Can you use this strategy to a rental DADU?
How do i contact your office
👆👆👆
Hi I wonder if we keep reporting rental loss would it trigger audit?
Dude your a beast !!!!
Excellent presentation
Good info 👍🏾
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Great advice
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Hopes n dreams of selling realty i might as well start as an realty agent!
It’s better to just be a real estate investor.
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
Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️
LLC
@@ashdb4157 Thank you
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.
@@alexnjoroge9333 Thank you
11:00
Short term rentals
What I can contact
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?
From watching many of his videos, you will have a to buy a new property every yr.
Amazing 👌🏽👌🏽😏
You truly are “the man”! Thanks
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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?
Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️
I would like to be your client.
How will this apply to a condo?
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
Awesome info. Are realtors considered real estate professionals?
Talked forever didn’t say sh*t 🤡🤡
First
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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