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Updated about 14 hours ago,
Is it worth tax planning before acquiring rentals?
Is it worth talking to someone to start the tax planning convos if this is my current situation?
1. I do not have rental property yet but intend to buy in 2025. Partner and I are planning to finance it together.
2. My partner and I are not married but we own a primary residence together. We split mortgage and are both on the loan and title.
As of now, I can see tax planning being beneficial to handle 2 people filing as single because we have to figure out how deductions from the mortgage will work. It'll only be more complicated when we acquire additional property.