When it comes to a putting my second home into an LLC for liability protection as well creating an active real estate business, does the LLC have to be the owner of the property? And if so how can I do this if my mortgage has a clause that prevents me from transferring ownership of my mortgage?
Hi..I have one question . In a year I pay around 12k taxes as a full time employee working for a company. Can I get tax deductions if I buy a rental property and repair it?
I have an electrical installations business, what would be the best way to buy realestate? Reinvest the income as a down payment and take a loan to buy realestate?
What about if you’re house hacking and you are renting part of your primary residence? What would be the best option for claiming your rental income and writing off all the expenses associated with my rental?
You'll have to separate it by sq footage. What % of their room makes up the total sq footage and then proceed to deduct that same % by utilities, depreciation etc. KD can chime in but that's how I'd do it. If it's long term, it's a schedule E, if it's less than 7 day turnover or air bnb then it can be a schedule C
I'd like to ask a community question please. I'm starting a pressure washing business. I've seen videos on starting an LLC and an S-corp and I'm a bit unsure as to how to proceed. I need to get an EIN number but the site asks if I want an LLC or an S-corp amongst other entities. Can you suggest one or the other or both. Thank you
I was advised to get an llc first because you can always turn it to an s-corp later if you’re making enough money while you can’t go from an s corp to llc.
If I'm retired, but still buying stock with MINISTRY income as a pastor, how does the tax code apply to me. Also, I". a home owner and planning to start renting out my home via Airbnb, etc?
Can I continue to depreciate the same property year over year to pay zero tax with my W2 job or do I have to buy a new property every year in order to keep it going?
There should be way more write off for w2 employees there putting in so much work so people can live comfortably. Can you get to the point and helpful details faster ahaha jk. Is there a face book group with testimonies of people living this plan?
The percentage of ppl who make less than 100k is much higher, I understand you're not in that bracket. But may consider curating videos to the bigger audience
PEOPLE PLEASE!!! IF YOU SEE AN ADVERTISEMENT ABOUT INVESTING BY REFERRAL IN ANY COMMENT SECTION (DONT FALL FOR IT) ITS A SCAM!!!! AND YOURE SMARTER THAN THAT
![How to Use Rental Losses to OFFSET W2 Taxes! [Part 1]](http://i.ytimg.com/vi/1a38vrvO-ko/mqdefault.jpg)
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Every single video I've watched so far, you were able to enlighten me with actual and practical ideas. Talking about Value! Thank you!
Karlton you are the best . I am a full time RE agent and You saved me a lot of money in taxes.
Love this guy
Bros dropping gems
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Thanks, I depreciate you 💘
You can get a home loan to include a VA loan without using taxes. It's not actually a requirement. I got a VA loan without using taxes
Thank you ❤
But what if a small landlord with one apartment in a duplex hasn’t a mortgage
Is there a different strategy
Can I use depreciation on a property that had been bought through seller financing?
Awesome info.
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Would I be able to use the depreciation for my rental property if the property is under my LLC?
When it comes to a putting my second home into an LLC for liability protection as well creating an active real estate business, does the LLC have to be the owner of the property? And if so how can I do this if my mortgage has a clause that prevents me from transferring ownership of my mortgage?
Thanks 🙏
What tax accountant would you recommend in the Atlanta area? Wanting to buy our first rental.
Great job
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Great information !!!
Great video man loved the info
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Love this channel! Thank you
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Lovee the info...Im interested on learning more...!!!
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Hi..I have one question . In a year I pay around 12k taxes as a full time employee working for a company. Can I get tax deductions if I buy a rental property and repair it?
I have an electrical installations business, what would be the best way to buy realestate? Reinvest the income as a down payment and take a loan to buy realestate?
Does Air BnB of one bedroom in your primary residence count ?
Do you do taxes or recommend someone that knows these strategies?
Should I buy a rental property every year then write off 350k worth of w2 income?
I have the same question, can anyone answer this?
So do a person have to b makin more than $150,000 to benefit from real estate tax privileges?
What about if you’re house hacking and you are renting part of your primary residence? What would be the best option for claiming your rental income and writing off all the expenses associated with my rental?
Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️
im wondering the same thing
Let me know if you found any information on this situation thanks
You'll have to separate it by sq footage. What % of their room makes up the total sq footage and then proceed to deduct that same % by utilities, depreciation etc. KD can chime in but that's how I'd do it.
If it's long term, it's a schedule E, if it's less than 7 day turnover or air bnb then it can be a schedule C
@@Gamma_Labs Makes total sense. Thank you for the advise. I appreciate it
But ... if your modified AGI exceeds certain amount, you can't deduct passive loss, unless certain exception applies to you.
👆👆👆
He explains that
Incredibly informational. You are a boss! Thank you
Dude your a beast !!!!
How do i contact your office
👆👆👆
Ray!
Excellent presentation
Great advice
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Hey can you write off the depreciation of a car. And would this be a cheaper way to write off depreciation?
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Don’t do it folks; u never mess the irs
They always win
Good info 👍🏾
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Is there still depreciation recapture if you claim accelerated depreciation but don't sell the property for 27.5 years?
Why would you recapture if you didn't sell. You only recapture on the sale.
@@victorespino5650 Yeah, you sell after 27.5 years.
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Just wondering what part of voluntarily, do people not understand? Funny when they don't even know what income is ,not your paycheck!
You truly are “the man”! Thanks
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Amazing 👌🏽👌🏽😏
If I refinance my rental to get cash to invest in another property, would I be able to deduct from my taxes the interest pay of the new mortgage?
Hopes n dreams of selling realty i might as well start as an realty agent!
It’s better to just be a real estate investor.
@@wsmaga I do both and it is great
RE professional IS a very hard to get to. IRS will fight it. Be very careful with his bullet proof claims.
Watch until then end where he recommends STRs not being a RE professional
Can you use this strategy to a rental DADU?
Great video. Can you cover how to make this tax plan work on a S Corp for a partnership set up?
Can I get the same rental deductions if I rent my home as a vacation rental?
Hi I wonder if we keep reporting rental loss would it trigger audit?
What I can contact
I'd like to ask a community question please. I'm starting a pressure washing business. I've seen videos on starting an LLC and an S-corp and I'm a bit unsure as to how to proceed. I need to get an EIN number but the site asks if I want an LLC or an S-corp amongst other entities. Can you suggest one or the other or both. Thank you
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LLC
@@ashdb4157 Thank you
I was advised to get an llc first because you can always turn it to an s-corp later if you’re making enough money while you can’t go from an s corp to llc.
@@alexnjoroge9333 Thank you
If I'm retired, but still buying stock with MINISTRY income as a pastor, how does the tax code apply to me. Also, I". a home owner and planning to start renting out my home via Airbnb, etc?
Can I continue to depreciate the same property year over year to pay zero tax with my W2 job or do I have to buy a new property every year in order to keep it going?
From watching many of his videos, you will have a to buy a new property every yr.
There should be way more write off for w2 employees there putting in so much work so people can live comfortably. Can you get to the point and helpful details faster ahaha jk. Is there a face book group with testimonies of people living this plan?
Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️
🙏
First
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11:00
Short term rentals
How will this apply to a condo?
Awesome info. Are realtors considered real estate professionals?
I would like to be your client.
The percentage of ppl who make less than 100k is much higher, I understand you're not in that bracket. But may consider curating videos to the bigger audience
Talked forever didn’t say sh*t 🤡🤡
PEOPLE PLEASE!!! IF YOU SEE AN ADVERTISEMENT ABOUT INVESTING BY REFERRAL IN ANY COMMENT SECTION (DONT FALL FOR IT) ITS A SCAM!!!! AND YOURE SMARTER THAN THAT