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Updated about 5 years ago,
Can someone give me help on Tax shelters/Expenses to write off
Hi Guys , first off I appreciate any insight given, so thank you in advance. I kind of had a snowball year with my income and it wasn't expected at all. I am dreading the taxes that are going to hit me. I ended up selling a rental house ( had longer than a year) and made a great profit on it (roughly 60k), I have two short term rental house that will gross 40k on airbnb this year. I have one long term rental that is pulling about 13k this year. I purchased a house a couple months ago that I am remodeling. So this year kind of just happened and I didn't expect any of this to really pop up like it did. I am wondering what all I can do to lessen my taxes, if anything. I'd be interested in knowing what strategies you all use. thanks!