That’s something I’m still fine-tuning as I explore new areas.As for scaling up, my focus right now is on leveraging tax-efficient strategies and building a system of limited liability companies (LLCs) to keep risk compartmentalized.

Do your workers have WC and liability insurance?

-save $1k+ in taxes and fees yearly-can use the savings to get more insurance and a higher liability than the value of house. for flipping houses in California does anyone just put into sole proprietor own name and just use the $1k+ in savings for LLC costs into Insurance or use for savingor am I just being too risky. 

But unlike a Roth, there are no contribution limits.

@Desiree Board For your mix of long-term rentals (LTRs), short-term rentals (STRs), and house flipping, an LLC is ideal for liability protection and pass-through taxation.

A revocable living trust is another option for privacy and asset protection.Avoid gifting the property before death, as this would pass the original purchase price as the cost basis, creating a large capital gains tax liability upon sale.If the property is Subject A’s homestead, ensure the correct titling to maintain Florida’s homestead protection for Subject B.This post does not create a CPA-Client relationship.

Hi Brian, I have Obie in my properties now, although I've never filed a claim with them so far, they are the better rates I can find, ask for their tenant liability coverage, I paid an extra 107 dollars a year and they cover up to 100k if a tenant severely damage your property. 

To make the most informed choice, get a Cost Seg feasibility analysis (free) which illustrates the expected tax deductions and then assess how those deductions impact your tax liability, based on your tax profile.

Can I deduct prior year unallowed passive losses against my W-2 or active income, or are they still limited to rental income?

That’s when working with a CPA isn’t just about "getting it right"—it’s about proactively reducing your tax liability and setting yourself up for long-term financial success.TurboTax and basic tax preparers like H&R Block handle what's in front of them.