Imagine making millions of dollars throughout your career and then having to pay Uncle Sam 30-50% every year instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of the best ways to end up with a much larger net worth at the end of your career.

I know they might be easy to borrow from, but you might want to look at more professional funding sources in the longer term.

I am here to learn, connect, and hopefully grow both personally and professionally.

If you think you might be in a similar situation, make sure to consult a professional.

I use professional software to manage hundreds of properties.

Another loss.I would actually explore the reverse mortgage or talk to an attorney/tax professional about you being a private lender and maybe structuring that way.

The owner is here on Bigger Pockets, although 5 days before tax day is not the ideal time to reach out to a tax professional.

It's typical and recommended one tax professional handles the entire filing.

He asked for my help or advice in how to get onboarded as a vendor for professional property managers so I thought I'd ask here.

Many years ago, Home Depot and Lowes used to have professionals from each trade in those departments, most were retired etc, I find that less and less nowadays and find myself helping customers out when I hear an employee giving really bad advice, so just take advice in the big box stores with a grain of salt.