Program to Calculate Tax Savings in Deal Analyses

[Kelsey Vander Meulen]

Hi all, 

My husband and I are high-income earners in a high income tax state (California). We currently own a SFR in Texas, but we are looking to purchase another SFR in Arizona. Given our tax bracket, including tax savings when analyzing various real estate deals is critical in determining our ROI. Does anyone have an excel program or software that they recommend that includes Schedule E data to show you the potential tax savings on various real estate deals?

[Michael Plaks]

Quote from @Kelsey Vander Meulen:

Given our tax bracket, including tax savings when analyzing various real estate deals is critical in determining our ROI.

No, it is not. What is critical is to understand that two high-income earners cannot reduce their taxes by investing in traditional rentals. Maybe in short-term rentals, under the right business model.