This is how you use the tax code to save money on taxes.

Keep in mind that you need to qualify as a real estate professional (or your spouse) to use this strategy.

There are a lot of different ways to save money on taxes.

Give me a follow if you want to learn them in digestible ways.

I’m sharing lessons I learned by becoming a multi-millionaire in my 20s!
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thelegacyinvestingshow

2024-03-11 18:22:55

let's say you made three hundred thousand dollars this year oh yeah we bought four properties and turn them into short-term rentals and make around twenty five thousand dollars a month in profit on average
thirty five percent tax rate looks like we're gonna be sending us a cheque for one hundred five thousand dollars yeah i'm actually not be paying you anything this year do you want to go to jail nope i'm actually in the short-term rental tax loophole what loopholes don't exist our tax code i'm gonna be doing a cost segregation study and bonus appreciating all my properties to show zero profit in your eyes and that doesn't include my other write-offs like my business meals flights my phone bill etc where you go broke if everyone knows about the stuff i've even learned about this same this video and follow for more