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Updated almost 3 years ago,
Depreciation and paying zero tax
I have roughly a $100k/year taxable income between w-2 and some self employed activities. I want to buy rental property, but my accountant says that I can only take up to $25,000 in losses, but thats only if your income is below $75k.
The bigger pockets real estate podcast #569 gives the impression I can make my tax bill $0 through rental property no matter how much money you are making. Can someone lay out an example of how I could start investing in real estate and lower the tax bill with my scenario? I have about $100k to start with currently. Thanks.