Just another fraud like a certain federal inmate that made a lot of news fleecing investors... 

For example, if your rental generates $25,000 in income and you have $10,000 in depreciation, it can reduce your taxable rental income to $15,000.Happy to discuss this further.

You can deduct expenses like mortgage interest, property taxes, insurance, and repairs, as well as depreciation on the building (but not the land), which helps reduce your taxable rental income.If you refinance, any interest paid on the new loan would also be deductible.

I'm hoping some of these EXPENSES will reduce my taxable income for 2024.I know there are rebates and TAX CREDITS for investing in Solar Panels.

In my case, the quotes were about $2500 to $4000 for the filing (federal and 2 states) and $5000 to over $6000 for tax advisory/planning.

My intention was to minimize my reported taxable income after taking expenses against the earnings through the LLC.

Although this 5.5% to 6% is taxable, it still enables them to offer above the 70% guideline.Experience also plays a key role.

Ok, at least we understand the motivation)) when the GFC happened and Dodd Frank came in and all Mortgage Brokers now had to take the Federal test and be registered with NMLS  criminal and finger prints are required along with a personal financial statement. 

Second, if youre doing fix and flipping in addition to your W2 income, how does that factor in to your normal taxable income from your W2?

It won't stop until he's doing federal time.