8 October 2023 | 0 replies
By doing so, investors can front-load depreciation deductions, providing substantial tax benefits in the early years of property ownership.2) Conservation Easements:Conservation easements involve donating development rights or restrictions on a property to a qualified charitable organization or land trust.
12 October 2023 | 6 replies
Stay informed about any changes that may impact your tax situation and adapt your strategy accordingly.Charitable Contributions: If you donate to qualified charitable organizations, you can deduct those contributions, reducing your taxable income.Health Savings Account (HSA) or Flexible Spending Account (FSA): Depending on your situation, contributing to an HSA or FSA can lower your taxable income.It's important to note that while these strategies can help reduce self-employment taxes, it's essential to comply with tax laws and regulations.
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20 October 2023 | 10 replies
College funds, charity, personal charitable trust?
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12 June 2018 | 4 replies
They issued a donation confirmation letter each year with estimated rental value (let’s say $50/month times 9 units times 12 months) as donation value, and the previous owner use it as charitable donation tax deduction.
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31 December 2021 | 7 replies
Just like you get deductions for dependents, charitable donations, yourself, and many other things you can also deduct expenses related to your property in order to avoid paying taxes on your rental income.Expenses you can write off might include insurance, property taxes, the interest portion of your mortgage payment, repairs and maintenance, depreciation of your building, and any other reasonable expenses you might incur though the investment.I hope this helps, let me know if you have any more questions!
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26 April 2015 | 1 reply
Charitable Remainder Trusts can be good vehicles for this while reducing taxes.
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20 February 2014 | 5 replies
THen he would "Sell" immediately to his for profit.. in the end, he was nailed because his Non-Profit was falsifying documents to claim they actually had a real charitable cause.
7 October 2015 | 33 replies
Charitable Remainder), offshore accounts, inheritance, etc)As you can see, qualifying as an RE Pro would be beneficial for someone earning this much passive income.
23 December 2016 | 4 replies
I.R.S. designated 501 ( C ) 3 non profit tax exempt entities like us, solve your problem every day through Charitable Revocable Trust.
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24 June 2017 | 24 replies
All proceeds for any of my courses are always donated a charitable cause.