Cost Segregation Study Calculator ▶ https://www.recostseg.com/real-estate-depreciation-calculator?pscd=get.recostseg.com&ps_partner_key=a2FybHRvbmRlbm5pczk4NTI&ps_xid=hCb0tkSeLzYxm2&gsxid=hCb0tkSeLzYxm2&gspk=a2FybHRvbmRlbm5pczk4NTI
TAKING THE NEXT STEP:
Join The Tax Strategy Accelerator Community ▶ https://www.taxstrategyaccelerator.com/?utm_source=youtube
Download the Short-Term Rental Rule E-Book! ▶ https://ebook.taxalchemy.com/?utm_source=youtube
Book a Professional Tax Strategy Consultation ▶https://taxalchemyadvisors.com/tax-alchemy-2486
Watch this FREE Webinar on How to Cut Your Tax Bill in Half as a Real Estate Investor ▶ https://join.taxalchemy.com/registration?utm_source=youtube
Get Help Setting up Your LLC, Now ▶ https://shareasale.com/r.cfm?b=617326&u=2911896&m=53954&urllink=&afftrack=
Many people want to use tax strategies to offset their W-2 or 1099 taxes before year-end. However, not everyone knows how to do this. If you want to offset W-2 or 1099 taxes in the last few months of the year, then one of the best ways that you can do this is with rental real estate investing.
In this video, tax expert Karlton Dennis explains how you can buy rental real estate properties in the last few months of the year and use losses from them such as depreciation to offset taxes on active income from a W-2 job or a 1099 business. He goes over tax strategies for rental properties including using the short-term rental rule or using real estate professional status.
Karlton also explains key factors that you should consider when choosing a rental property such as building value vs. land value, which states are better than others for making investments, and more. This video is helpful for anyone who wants to learn how to reduce their taxes by offsetting income before the end of the year.
CHAPTERS:
0:00 Intro
0:34 The 8 Key Steps to Avoid Taxes with Real Estate
0:56 Step #1: Choose the Right Property for Your Investment Strategy
1:59 Step #2: Find the Right Building-to-Land Ratio
2:59 Step #3: Cost Segregation Study Estimate
3:46 Step #4: Going into Escrow
4:30 Step #5: Set Up an LLC and Buy the Property with Your LLC
5:36 Step #6: List Your Property for Rent
6:28 Step #7: Rent Out Your Property
6:43 Step #8: Execute the Cost Segregation Study
7:11 Recap
*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.
#avoidtaxes #taxstrategy #realestateinvesting