Demjan Van Der Kach
W2 taxes are killing me
Hey folks,
Would really appreciate some ideas from the forum CPA's, tax lawyers. My wife and myself are having full time jobs and work 50-70 hrs a week each that puts us in 35% pus federal tax brackets. I really like...
Bradley Pitts
Rental Business: Active vs Passive Income
Hi,I think I understand the difference between active and passive income. Passive income applies to most small landlords/owners as they collect rent from tenants. This also applies to investors who collect interest or...
Sam Tamayo
real estate proffessional classification
Hi, looking to claim the real estate professional for tax benefits. I have a variety of qualifying activities on a part time basis that will qualify me, but am thinking of adding LSA (loan signing agent) to the mix. ...
Adriana McLaughlin
New investor: I don't want to quit my W2 but want to max investing to offset taxes
I have a W2, but also have a real estate license, though I work very little in actually selling real estate. I just bought my first investment property in Chicago, and have been busy doing minor repairs, furnishing it...
Rich Schroeder
tax loss for full time investor
I have a meeting with my accountant later next week. However I would like to be able to speak intelligently with him, so I'm looking for some information.
I have a day job, my wife stays home...
Anthony Z.
Can real-estate deductions be applied to W4 income?
When listening to the BP podcasts I often hear about different tax benefits such as:Itemized deductions related to acquiring/managing propertiesHome depreciation tax write offDo these things lower the tax bracket of t...
Masashi Borges-Silva
Reducing W2 income tax by actively participating in real estate
Background
I am not a Professional Real Estate (yet) as I am working as a full-time engineer, and I don’t meet 750 hours of services during the tax year in real property trades or businesses in which I participated. ...
Russell Goldenbroit
Rental Property Tax Savings for the Passive Investors
Hi Community Newbie to the community looking to get started in rental properties. I've heard of people using rental properties to lower their taxable income but I'm not clear how this is possible. From what I'm gath...
Megan Paquet Nelson
Hurricane/Flood and loss of Business Income
I have quite a few STR's that were decimated by flood/storm surge with Helene, and then Milton came to finish the job with wind. All of them are uninhabitable. It will take many months to remediate and rebuild. These ...
Gerald E.
Bonus Depreciation towards W2 Income
Newbie question: I've read numerous threads on the depreciation benefits of RE investing but need to ask the following for clarity. I earn over $150K in W2 income. My RE business partner and I have an LLC and are c...