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Updated almost 7 years ago, 02/09/2018

User Stats

345
Posts
170
Votes
Carlos Gonzalez
  • Investor
  • Phoenix, AZ
170
Votes |
345
Posts

Help in maximizing income returns

Carlos Gonzalez
  • Investor
  • Phoenix, AZ
Posted
I have a fourplex and i manage myself. I have spent (or reinvested, depending on which angle I want to see it) over $20K in 2017 I went to my CPA to ask her how much I would get back on taxes and CPA says probably around 6K. CPA told me was filing my business under schedule C. I bought this fourplex in sept 16 through an FHA loan and I filed for my taxes in 2017 year and I got around 6K and probably spent around 5K fixing it. Why would I be getting around the same amount of taxes back if I reinvested back more money and also invested in cap ex out of pocket. I was thinking I was getting some more money back to continue buying more properties. I don’t know anything about this so that’s why I’m asking. Any advise is welcome. I will be reading about real estate taxes to be more educated in this aspect. Any advice is welcome.

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