STR Tax Loophole 🏡💰

🏡How to Set Up A $2,500/mo Airbnb in 84 Days.

🔗Link on home page.

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!

[TheTruthFadeswithTime]

I’m a CPA and this just defers the taxes. You still have to pay those taxes long term. Also you can only deduct 50% of meals.

[keaten]

4 properties at 25k a month? What properties did you buy? Trump Tower?

[OliverMullison]

I wouldn’t take tax advice from someone that doesn’t know income is taxed in brackets. You wouldn’t pay 35% on the 300k. I stopped listening there.

[cmleoj]

Great idea! EXCEPT, once you fully depreciate the properties you won’t have any way to offset revenue and then you will owe a buttload in taxes. It’s fun for a couple of years but then you pay big time!

[Tobynsocks]

Yeah that thousand dollars a year phone bill really going to make a difference on that 300 K tax bill

[orlandovazquez]

The rich don't need breaks but they're the only ones that get them

[jm]

Private membership association is the key.

[RF_Andy]

People watching this: dont forget to pay the mortgage, property taxes, insurance, repairs and account for vacancies and hoa. Your tax guy isn’t jesus.

[Mehmehidk]

Some people really do live on another planet… take these words and do some Google research, talk with an accountant and similar and you will find the right way to not “pay” 100% of taxes you own to your Country.
There are a lot of ways you can do that… I am personally from Italy and I have a friend of a friend that each year sues the government and wins so he pays waaaay less than he owned them prior to the lawsuit. ( don’t really know specifics, but this one thing stays in mind 24/7). Knowledge is the key to almost everything.

[AGBullion]

This was a game changer for me once my CPA brought this to my attention late last year. Fast forward and we have 14 properties as of today!

[deathstarresident]

When you use these loopholes please be aware that there is a fine line between tax avoidance and tax evasion. Showing very high expenses on your business than prevailing market rates, unrealistic depreciations and adding personal expenses as business expense are all considered tax fraud and many people have gone to jail trying to do such things thinking they’re smarter than everyone. Just think about it - if your tax professional knows about this loophole how much an IRS Auditor would know about it considering he discovers such cases for a living. Play it safe - it’s not worth loosing your life and business for a few bucks

[jimg]

Can someone please explain to these people what happens when you try to sell a property in year 5 that you have depreciated 100% already.

[allieroze]

PLEASE MORE TAX VIDEOS AND LINKS TO RESOURCES TO LEARN 😊

[jayc]

Bonus depreciation must be realized later tho as it is only being postponed

[MrE]

Never ever pay taxes!!! we already pay too much through money printing, property and sales tax, plus inequality just keeps growing. Slavery didn't end, it just changed to the form of extremely high taxes.

[thefacultyoffunk]

Avoiding tax is nothing to be proud of.

[Phantom]

Thats total Bull I had property rentals for 5 years and barely made anything... the right offs let me break even. When I sold I barely made enough to cover closing costs and relator fees this is abaolutely FALSE! 😂

[joshlanders]

This is why we have a housing crisis. If your "tenent" could pay your mortgage plus your living expenses plus another margin, they should have bought the home and not been a renter.

If you have a home and you want rental income buy $O. Don't be so greedy as to take 30% to 70% of peoples income just because you "can" - this is why people can't afford rent. This is why mortgages and home prices are so high. Its not because the rotting wood and replaced roof are more valuable - it's because there's more debt waste. You getting into debt to charge more than a historical rent price is NOT working. Yes you get a profit. But you also add to an existing issue and contributed absolutely nothing to society.

[abingeorge]

These kinda loopholes need to be closed. Too much tax evasion that the helpless have to cover.

[ohmthepoet]

Remember folks if it were this easy we'd all be doing it or it'd be illegal