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Updated over 5 years ago,
Kiyosaki talk. Write off RE with business??
Hi, I was watching a kiyosaki vid, and I heard him talk about Jared Kushner not paying taxes in regards to 3 forms of income. I’m not totally sure what’s being said here and I’m not asking for the “safe” “sounds really legal and compliant” answer necessarily. I want to know, is there loopholes on RE through owning a business that would keep you from paying taxes at all on a flip or does that only pertain to rental properties, or none of the above? Or to be specific, I’m curious if there’s a way to legally write off the profits of a house flip, if there is a connection with the use of the house to say a construction business during the time of ownership. I’m not looking to break laws; just asking about what’s possible with the existing tax laws.