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Updated over 6 years ago,
Paying to much in income taxes???
I think it was Robert Kiyosaki who stated if you own rental properties and your paying taxes you are not doing it right. Please Help me understand this better. I basically use the brrrr strategy and use my local lenders to get my money back to buy again. However, this thing they call the debt service coverage ratio keeps me paying a lot of taxes quarterly. I have to show I make good money on my yearly taxes or they wont loan to me. I tried a few times to take advantage of my write offs and pay less and the banks cut me off! No more loans! How do you write off so much to avoid taxes and when it shows you don't have income????? I do have a good income and I pay a ton of taxes.. Any advice would be greatly appreciated..