Joe Wood
Reducing taxable income ideas
Hello everyone,Interested to see what are some good ways to increase deductions in order to reduce taxable income. I am already acquiring one more property, but looking to see if anyone has some creative ideas out there.
Neil Copeland
Reducing Income Tax Strategies
Need some help from some seasoned professionals. I had a great discussion with my CPA today about a number of things that I needed to know, and she really tuned me up. I will have a solo 401k soon, and I already hav...
Larry Flanagan
Reduce income tax bill
Besides making less money, what are some good ways to reduce my income tax bills? I mostly flip & wholesale, so my income is primarily taxed at short term rates. Between state & federal last year my tax bill...
Osahon Abbe
Qualifying for a conventioanl loan after Cost Segregation
Has anyone done a cost segregation on their tax returns and that reduced your W2 income through the losses claimed? How did you navigate getting a loan with the reduced income on your tax returns? I know you can use a...
Account Closed
Does reducing my taxable income reduce my buying power?
If I use all my tax write offs and reduce my taxable income to 0 will that reduce my buying power in the future? In other words...will banks still count the income from my rental property when trying to qualify for a ...
Eugene Ionel
Market rent reduction for tenant who is behind on current rent
Would you agree with market rent reduction for a tenant who is behind on current rent? The tenant is currently on a month to month rental agreement and claims COVID 19 eviction protection due to his reduced income. He...
Josh Sparks
How to reduce income tax
what are some legal ways to reduce my rental imcome? Can my partner/girlfriend claim the income and expenses? Does her name need to be in the mortgage or deed?
Larry Flanagan
Fringe benefits to reduce income taxes
I got a $65,000 income tax bill today. Is there any way my business can provide me with some deductible fringe benefits like a company car, health club membership, life insurance, etc?
Lucas Rowell
Utilizing property to reduce taxable income
Hello and Good evening BP Brothers & Sisters.
Tonight I wanted to post a question I have been thinking a lot about lately. "How could an investor best utilize property to lower taxable income"?
We currently own...
Lucas Rowell
Utilizing property to reduce taxable income
Hello and Good evening BP Brothers & Sisters.
Tonight I wanted to post a question I have been thinking a lot about lately. "How could an investor best utilize property to lower taxable income"?
We currently own...