All Forum Posts by: Nicholas Overby

Thank you.  I file as single currently.  They do talk about the real estate professional designation in the podcast.  Essentially to take full advantage of the tax laws, once you are big enough, it would be prudent to get that designation then?  Until then I'm kind of stuck paying taxes it sounds like.

I have roughly a $100k/year taxable income between w-2 and some self employed activities.  I want to buy rental property, but my accountant says that I can only take up to $25,000 in losses, but thats only if your income is below $75k.  

The bigger pockets real estate podcast #569 gives the impression I can make my tax bill $0 through rental property no matter how much money you are making.  Can someone lay out an example of how I could start investing in real estate and lower the tax bill with my scenario?  I have about $100k to start with currently.  Thanks.