Rental Property Tax Deductions | Investing for Beginners

My mentor in real estate investing once said: "if you invest in real estate and you're paying taxes then you're doing it wrong."

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In this video, the team at Morris Invest is walking through ten tax deductions that you can take today if you're a real estate investor.

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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

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[austindmunday]

Very concise unlike a lot of other videos on the rental properties. Good job

[kidcitylynnwood]

It's very nice to get all this info without anyone yelling at me.

[craigt]

I'm new to RE investing but I will always remember that quote "If you're paying any taxes as a real estate investor you're doing something wrong"
That quote will be in my head every year at tax time during my RE investing journey to guide me in doing this right.
Thanks.

[zulemaflores]

I'm going to take a class on preparing taxes, and there are about 6 levels to achieve to be a professional tax consultant. This really is an eye-opener for me. Thank you 😊 so much?

[prriches]

Morris is phenomenal in his approach to this spectacular subject! So fortunate to have found channel!!

[juanmorebeers]

In most cases a new roof on a property would likely have to be depreciated over time and could not be deducted all in one year.

[rauljaquez]

I was just listening to the Rich Dad Poor Dad podcast on depreciation and searched on youtube for more elaboration and it was Morris invest who they were speaking too.... so wow small world. Thanks for the valuable video!

[harukoyama]

Your accountant is correct... Below is an great example I found:


The basis of property you inherit is usually the property’s fair market value at the time the owner died. Thus, if you hold on to your rental property until death, your heirs will be able to resell it and pay little or no tax—the ultimate tax loophole.

Example: Victoria inherits her deceased parents' home. The property’s fair market value (excluding the land) is $300, 000 at the time of her uncle’s death. This is Victoria’s basis. She sells the property for $310, 000. Her total taxable profit on the sale is only $10, 000 (her profit is the sales price minus the home's tax basis).

The basis of a home or other property you receive as a gift is its adjusted basis in the hands of the gift giver when the gift was made.

[MegaHahaU]

I'm so pumped and ready to buy my first multi family unit this year this is great info thank u

[phillipperez]

The FICA is what kills me lol. I have a small office rental. It brings in $32, 000 a year. I pay the triple nets, dumb i know lol. After deductions im around $22, 000 self employment income. 15.3% of that is still a lot.

[boonlianglim]

Very clearly explained. Really helped me understand how this works. THANK YOU!

[SalwanFilms]

Thanks for redirecting me here! Very Informative, I will definitely be commenting and liking more of your videos, cheers

[LYIRICSMAKINGSENSE]

This is the best video I've ever seen. Thanks Morris.

[lilymcalister]

WoW!!! I am not real estate owner...yet but I would LOVE to become one. I aways have wanted to own rental property. It has been sooo worth the low cost to become a subscriber to your "channels" (sorry, I don't know what else to call it.) I am really looking forward to learning more Clayton. Thanks ooodles!! Happy New Year!! 🎉🎊 May the new year improve, for EVERYONE!! 💜🌷

[jyeelliott]

Thank you, finally some very helpful advice

[mikeonmicshow]

I own commercial real estate, so I am familiar with depreciation. Repairs and improvements are different things. It may well be that the IRS is not a stickler about these, but they are distinctly different and it sucks for me to have to pay for a buildout for a new tenant and not be able to claim it right away, but have to amortize that expense over the life of the property.

[bthomas]

land is appreciating, building is depreciating (just much slower than the depreciation rate of your taxes)

[AndrewHargreave]

LOL on the nap at the desk. I've done that way too often...sometimes with hands resting on the keyboard.

[HeatherSarantakis]

Okay first, I need the contact info of your accountant lol

[financialgardens]

Thank you Very much. I just bought a Investment property and your advise is very helpful.