Help with tax when having another business to go towards buying real estate

[Chris C.]

Hi I was wondering if I can take profits from a different business (has nothing to do with real estate) to go towards buying houses to help with taxes or would that not work? 

[Joshua Thompson]

Hi Chris! 

It COULD work! The reason I say could is because your current income, tax situation, and real estate investments can dictate if buying real estate might benefit you. Depending on your business you also want to keep in mind that some of those funds you take out of that business might need to be used for taxes as self-employment taxes typically don't go away by investing in real estate. Reach out to your tax advisor, who might be deep in extension tax returns at the moment, and ask to have a consult or sit down. That tax advisor should be able to answer this better for you based on your current tax situation. Let me know how it goes!