Furthermore, Your choose of words are precise and stay on topic…. You are so professional in words and conduct…. Not belittling people !!!My gratitude to you!!!!!
Mark J Kohler is the best CPA / Tax Attorney - “Instructor” for Tax Strategy @Main Street Tax Pro Ive seen you in his YT and its amazing how much you have learned with his strategies. Its a great video 👏🏽🎯👏🏽 Thank you for sharing your knowledge!
Good afternoon Mr Karlton…. Thank you for the information about depreciation Real Estate. I am impress the way you present.. I am grateful for your simple presentation especially using objects and words to illustrate… You are bless with great presence and bold voice and command….
Dude, you are the Rock Star, thank you. Just recently learned this tax estrategy and want to ask you this. I have purchased my Residential Property 19 years ago and have never used the depreciation estrategy. Some remodeling was done over the years, New deck, bathrooms, kitchen, painting etc. New appliances(twice)... 2023 tax is up, how can I use this estrategy now? should I or forget about it as I have never done in the pass or maybe it is even better as i have accmmulate all of these years? Can you give me some advices here. Bless you!
This is really interesting. Getting hundreds of thousands of dollars in tax deductions for one year when up to half of your income is due to be paid in tax - this is a huge deal. That’s like getting up to half of the asset you purchased from the government as an alternative of paying that amount in taxes. There is also a compounding effect as every year you can invest your income in real estate that is tax deductible and grow your portfolio of assets. Also getting a tax deduction of the full value of the mortgaged real estate is like getting the downpayment paid back for free. This is craziness
Who do I contact for a cost segregation study? And what is the result roughly in bonus depreciation on a 500k property, 1M property? Can you only use this method of bonus depreciation on a rental property you purchase that year or can it also be used for a property you’ve owned and decide to rent out that year?
What if I buy real estate for the business, as opposed to a rental porperty. My business being an online business where I sell a physical product. The building would house inventory.
this video was actually gold bro! super helpful, thank you for passing on this information !! Keep spreading the knowledge, peace and love to you !! Imma open an LLC and take a business trip to you to personally thank you HAHHA.
My understanding is rental expenses can only offset rental income. You can't use a loss from your rentals to offset your W-2s. But I don't know much about taxes...
If you write off your bonus depreciation in year one, what do I do the following years? Am i allowed to keep writing the same bonus depreciation off the following yrs?
is this still possible if you bought a house as a primary residence, lived in it for a few years, and then decided to rent it out? how would that all work?
Can someone explain interest rate to me? If I get $50k as line of credit with 8% interest rate (which equivalates to $4,000) would I pay 8% each month, or each year?
I love how much information you provide the people about their separate entities but can you or someone point me in the direction of tax education, business startup and w2 education. ( looking for a trusted RUclips source. ) I have business ideas but I am thinking to build my way up before I jump into business registration with my state (NC). I want to learn more about maximizing a w2 if possible, and or the smartest, most strategic and legal way to complete my W2 form and also if i am able to write off items i have bought for my current 9-5. I'll do my own personal research in the mean time. edit: I am saying to learn about those things first because in my mind i am thinking to save up enough emergency fund in my personal account that will cover startup business costs, i assume taking out a loan with business credit has to be paid back with the business money and It seems as though the only people that will be able to pay back those type of loans are the people who are generating mass revenue, however at the same time I don't want to spend all of my business income on paying back a $50,000-$100,000 bank loan when I could use that income to upgrade the business technology or invest in another property/location
He is all talk, no help. I filed taxes with them last year , paid more than 2200. I thought they are charging more , will help me in refund but they use $ 200 contractors for filing your taxes. I am not happy with their services at all. WILL NOT RECOMMEND ANYONE TO USE THEIR SERVICES AT ALL.
@@richdibo 1031 is a tax law…Abiding by 1031 is fully abiding by taxes in your situation if it works. The IRS approves your 1031 exchange… nothing illegal about it and is encouraged through tax benefits.
![How to Use Rental Losses to OFFSET W2 Taxes! [Part 1]](http://i.ytimg.com/vi/1a38vrvO-ko/mqdefault.jpg)
![How to Use Rental Losses to OFFSET W2 Taxes! [Part 1]](/img/tr.png)
dude, ur like 1 of the coldiest dudes on this planet 4 this information. U need a like some kind of grammy award 4 taxes. Amazing!!!
I couldn't have said it better. I agree with you 100% I wish I could ask him directly some advice to implement moving forward.
Furthermore, Your choose of words are precise and stay on topic…. You are so professional in words and conduct…. Not belittling people !!!My gratitude to you!!!!!
Mark J Kohler is the best CPA / Tax Attorney - “Instructor” for Tax Strategy @Main Street Tax Pro Ive seen you in his YT and its amazing how much you have learned with his strategies.
Its a great video 👏🏽🎯👏🏽
Thank you for sharing your knowledge!
You’re AMAZING! Your channel is such a gift! Thank you for your dedication to this top-notch content!
Good afternoon Mr Karlton…. Thank you for the information about depreciation Real Estate. I am impress the way you present.. I am grateful for your simple presentation especially using objects and words to illustrate… You are bless with great presence and bold voice and command….
You're a stud bro! Thank you for teaching us this gold!
Thanks for providing tax reduction options. More great advice 👍.
I’m here for the advice…as well as, watching Kaltons works of art? @5:25. 😂🤣 I want the tshirt
Dude, you are the Rock Star, thank you. Just recently learned this tax estrategy and want to ask you this. I have purchased my Residential Property 19 years ago and have never used the depreciation estrategy. Some remodeling was done over the years, New deck, bathrooms, kitchen, painting etc. New appliances(twice)... 2023 tax is up, how can I use this estrategy now? should I or forget about it as I have never done in the pass or maybe it is even better as i have accmmulate all of these years? Can you give me some advices here. Bless you!
I’ve watched a lot of videos on depreciation and this is the best one by far. Subbed!
This is really interesting. Getting hundreds of thousands of dollars in tax deductions for one year when up to half of your income is due to be paid in tax - this is a huge deal. That’s like getting up to half of the asset you purchased from the government as an alternative of paying that amount in taxes. There is also a compounding effect as every year you can invest your income in real estate that is tax deductible and grow your portfolio of assets. Also getting a tax deduction of the full value of the mortgaged real estate is like getting the downpayment paid back for free. This is craziness
Always great information thank you 😊
I just found your youtube channel and I can't get enough of it.
Any advise on how to reduce taxes for W-2 worker with out rental property?
Who do I contact for a cost segregation study? And what is the result roughly in bonus depreciation on a 500k property, 1M property? Can you only use this method of bonus depreciation on a rental property you purchase that year or can it also be used for a property you’ve owned and decide to rent out that year?
Where is the fastest way to find the land value to be excluded in depreciation? Is it the purchase price less dwelling insurance?
What if I buy real estate for the business, as opposed to a rental porperty. My business being an online business where I sell a physical product. The building would house inventory.
this video was actually gold bro! super helpful, thank you for passing on this information !! Keep spreading the knowledge, peace and love to you !! Imma open an LLC and take a business trip to you to personally thank you HAHHA.
Sec 179 is a great strategy. Does it apply to livestock, and if so could you do a video on how that works
Great teaching bro! Love it
My understanding is rental expenses can only offset rental income. You can't use a loss from your rentals to offset your W-2s. But I don't know much about taxes...
Can i bonus depreciate a new roof and completely new elecrical without a cost seg?
Can you just do my taxes?! Used turbo tax and I don't see where I put in this depreciation!?
Barney style. Exactly what I needed. Thanks man
If you write off your bonus depreciation in year one, what do I do the following years? Am i allowed to keep writing the same bonus depreciation off the following yrs?
I was wondering this too! This video seemed incomplete without discussing that.
Great video. Thank you for the information
is this still possible if you bought a house as a primary residence, lived in it for a few years, and then decided to rent it out? how would that all work?
Does all of this apply if you build a house? And if so, couldn't you use all the receipts and billing to make the cost segregation analysis easier?
Awesome video! Thanks for the info
Really valuable information!
If you replace the '5/7' year items during your ownership, do you get to repeat depreciation on them once again?
Hey can you Depreciate a Mobile/Manufactured home the same way??
Thanks sooo much!!!!
Many states so not allow Bonus depreciation...
So good!👍
Can someone explain interest rate to me? If I get $50k as line of credit with 8% interest rate (which equivalates to $4,000) would I pay 8% each month, or each year?
You pay 1/12 of 8% each month. So basically you are paying .667% each month on the remaining balance.
I believe it's called "Double Down Depreciation".
I love how much information you provide the people about their separate entities but can you or someone point me in the direction of tax education, business startup and w2 education. ( looking for a trusted RUclips source. ) I have business ideas but I am thinking to build my way up before I jump into business registration with my state (NC). I want to learn more about maximizing a w2 if possible, and or the smartest, most strategic and legal way to complete my W2 form and also if i am able to write off items i have bought for my current 9-5. I'll do my own personal research in the mean time.
edit: I am saying to learn about those things first because in my mind i am thinking to save up enough emergency fund in my personal account that will cover startup business costs, i assume taking out a loan with business credit has to be paid back with the business money and It seems as though the only people that will be able to pay back those type of loans are the people who are generating mass revenue, however at the same time I don't want to spend all of my business income on paying back a $50,000-$100,000 bank loan when I could use that income to upgrade the business technology or invest in another property/location
What if I'm running out a room in my primary home for air BNB?
where is the case study?
He is all talk, no help. I filed taxes with them last year , paid more than 2200. I thought they are charging more , will help me in refund but they use $ 200 contractors for filing your taxes. I am not happy with their services at all. WILL NOT RECOMMEND ANYONE TO USE THEIR SERVICES AT ALL.
how about doing a rehad
Why don’t you talk about the flip side of this, which is recapture and it’s consequences
This feels illegal to know lol thanks
@@richdibo 1031 is a tax law…Abiding by 1031 is fully abiding by taxes in your situation if it works. The IRS approves your 1031 exchange… nothing illegal about it and is encouraged through tax benefits.
👏🏿👏🏿👏🏿👏🏿👏🏿