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Updated about 19 hours ago,

User Stats

1
Posts
3
Votes
Cathy Ries
Pro Member
  • Seattle, WA
3
Votes |
1
Posts

Is it worth tax planning before acquiring rentals?

Cathy Ries
Pro Member
  • Seattle, WA
Posted

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. 

  • Cathy Ries
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