@Kareem DanielsWelcome to Bigger Pockets.

Here are a few options: max out 401k contributions for you and your spouse, max out HSA contributions, make charitable donations, harvest tax losses, etc.I recommend finding a tax strategist who specializes in real estate taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

But I feel like there must be a better way to get a bigger reach.

If you buy a rental property by the end of the year, you might be able to offset some of the losses with the gain.best of luck.

Are you able to take capital loss on taxes and if so how does that work? 

@Lucas Schlund the same thing that happened to all the STRs in NY City when their ordinance went into effect, as well as many other cities.Owners must comply and the government doesn't care about your potential losses:(

They are advertising their product on bigger pockets.  

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)

Some post here on the Bigger Pockets Marketplace.

Quote from @Jesse Beach: @Jay Hinrichs I agree on the pricing, honestly this could be me listening to much to the property mgt team saying what they thought they should get, maybe time to make a bigger cut.