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theambitiouswoman · 7 months

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Hi!

Thanking for answering my ask,

If you don’t mind I would love it if you could get into the tax part, I just want to know as much as I can. 😆

Ok this is fun, prepare to have your mind blown.

I have to disclose that I am not a financial advisor or an accountant <3

Trusts: You want to consider purchasing the properties under a trust. Tax implications can vary under trusts. Revocable living trust will allow you to be treated as the owner, but in an irrevocable trust, it is a separate entity. In some structures, you would only pain capital gains, which can also be transferred to a separate trust, and you do not end up paying capital gains on the property. You do this with a charitable remainder trust. Generally, if a property is held in a trust, rental income generated from that property is typically subject to income tax. The trust itself may be responsible for paying those taxes, or the tax liability might pass through to the beneficiaries, depending on the type of trust and its specific provisions. This will change the amount you would pay in taxes. If the property was purchased as a primary home, there could also be capital gain exceptions depending on the trust. Your income affects the rates you pay on specific trusts. Before I continue, I want to suggest speaking to an actual attorney, not an accountant. Most are not knowledgable or equipped to properly guide you here. Same as with traditional, in a trust you can deduct property related expenses like mortgage interest, property taxes, maintenance costs, and depreciation, from the rental income. This can help reduce the taxable income generated by the property.

IRA's: You can use a self directed IRA or other retirement accounts to invest in real estate. The gain from these investments grow tax deferred within your account. This is something you should also consider doing.

Depreciating assets: Real estate can depreciate overtime. This doesn't include land. But when it depreciates, you can deduct the properties cost. This would offset the income you would pat taxes on.

1031 Exchange: Filing a 1031 will allow you to defer paying capital gains on an investment property when it's sold, as long as another "like kind" property is purchased with the profit gained from the sale.

Mortgage Interest Deduction: Interest paid on mortgages for investment properties can be deducted.

Carry Forward: If your expenses exceed your rental income, you could have a net loss. Some of these losses can be used to offset other taxable income, while others might be carried forward to future years.

Living in the property: If you live in the property for 2 years. you can exclude a portion of the capital gains from your taxable income when you sell.

Opportunity Zones: Opportunity zones offer tax incentives, including deferring and potentially reducing capital gains taxes.

Expenses: All repair expenses can be deducted.

Installments: You can structure your sale to receive payments over time. This spreads out the capital gains and reduces tax impact.

Tax Credits: There are a ton of tax credits for investors. Would research in your state.

More deductions: Interest on a mortgage for an investment property is typically tax deductible, as are property taxes and many other expenses related to the property like Insurance premiums.

Cost segregations: You can hire someone to reclassify certain areas of your property to accelerate depreciation. This will give you a significant upfront tax deduction.

Pass throughs: Certain pass through entities (like LLCs, S Corporations, and partnerships) may be eligible for a deduction of up to 20% of their business income from rental properties.

I can keep going on this, but strongly recommend you read these books:

Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax

Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes

#real estate #investment #real estate investing #investors #finance #money #property investing #homebuyers

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timmurleyart · 3 months

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The apartment block. 🏙🌃 🟧🟪(mixed media collage)🏢

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fxgstxg · 5 months

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Feel like I shouldn't have to say this and I'm mostly just preaching to the choir but housing should not be an investment opportunity. Living, breathing humans reside in that house. You're disgusting if you're a landlord, even more so if you have your tenants live in dangerous conditions. If you're gonna own the property, it's your responsibility for maintenance. Point-blank and I don't wanna hear anyone tell me otherwise.

#capitalism #anti capitalism #anti capitalists be like #capitalist hell #late stage capitalism #capitalist dystopia #investment #real estate investing #investors

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frizzyanya · 4 months

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Everybody gets firsts before anybody gets seconds, but for housing. It should be illegal to stock up on a basic human necessity until people can't afford it. There is not a housing shortage in the USA, there is a hoarding problem.

I judge people who own more than they need. I'm sorry, but I do. That's true if you have a vacation home or if it's a rental property. It's true if it's one property or if it's ten. Your "investment" could be someone else's first and only home.

#leftist #liberal #democrat #housing #housing crisis #investment #real estate investing #real estate #real property #investing #socialist #socialism #kind of #responsibility #greed #hoarding #rich get richer #poor get poorer

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dispatchesfromtheclasswar · 11 months

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Report has come out showing that nearly half of the speculative real estate investors largely responsible for making Canada's largest city also one of the most expensive to rent in are losing money and I am here for it.

#class war #landlords #class warfare #real estate investing #classism #housing is a human right #toronto

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spiritual-bdsm-enlightenment · 3 months

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#investors #real estate investing #investment #investing #philanthropy #donations #spiritual awakening #spiritual enlightment #spirituality #spiritualgrowth #gofundme #donate if you can #donate

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dietrichwieneckeluebeck1 · 2 months

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Dietrich Wienecke Lübeck - Sind Sie ein Erstkäufer von Wohneigentum?

Der Kauf Ihres ersten Eigenheims ist ein aufregender Meilenstein, aber er kann auch ein entmutigender Prozess voller Fragen und Unsicherheiten sein. Von der Navigation auf dem Wohnungsmarkt bis hin zum Verständnis der Hypothekenoptionen gibt es viel zu bedenken. Dietrich Wienecke ist Ihr vertrauenswürdiger Ratgeber, um die Reise zu vereinfachen und das perfekte Einstiegsdomizil für Sie zu finden.

Wer ist Dietrich Wienecke?

Dietrich Wienecke Lübeck ist mehr als nur ein Immobilienmakler - er ist Ihr Partner im Prozess des Hauskaufs. Mit seiner langjährigen Erfahrung in der Immobilienbranche hat Dietrich zahlreichen Erstkäufern geholfen, die Komplexität des Kaufs ihrer ersten Wohnung zu bewältigen. Sein Engagement für die Zufriedenheit seiner Kunden, sein tiefes Verständnis des Marktes und seine persönliche Herangehensweise machen ihn zum idealen Verbündeten für alle, die sich auf den Weg machen, ein Haus zu kaufen.

Verstehen Sie Ihre Bedürfnisse und Vorlieben

Einer der ersten Schritte auf der Suche nach dem perfekten Eigenheim ist das Verstehen Ihrer Bedürfnisse und Vorlieben. Dietrich Wienecke nimmt sich die Zeit, sich Ihre Ziele, Ihren Lebensstil und Ihr Budget genau anzuhören, um Immobilien zu finden, die Ihren Vorstellungen entsprechen. Ganz gleich, ob Sie eine gemütliche Eigentumswohnung im Herzen der Stadt oder ein Stadthaus am Stadtrand mit Platz zum Wachsen suchen, Dietrich nutzt sein Fachwissen, um eine Auswahl von Häusern zusammenzustellen, die Ihren Kriterien entsprechen.

Navigieren auf dem Wohnungsmarkt

Der Wohnungsmarkt kann hart umkämpft sein, insbesondere für Erstkäufer. Dietrich Wienecke bietet Ihnen wertvolle Einblicke in Markttrends, Immobilienwerte und die Dynamik der Nachbarschaft, damit Sie fundierte Entscheidungen treffen können. Mit seiner Hilfe können Sie sich auf dem Markt zuversichtlich bewegen, denn Sie wissen, dass Sie einen sachkundigen Fürsprecher an Ihrer Seite haben.

Der Weg zum Eigenheim kann überwältigend sein, aber mit Dietrich Wienecke Lübeck als Ratgeber muss er das nicht sein. Durch die Vereinfachung des Prozesses und die persönliche Unterstützung bei jedem Schritt hilft Dietrich Erstkäufern, die perfekte Einstiegsimmobilie mit Leichtigkeit zu finden. Wenn Sie bereit sind, den nächsten Schritt in Richtung Wohneigentum zu machen, wenden Sie sich noch heute an Dietrich Wienecke und lassen Sie sich dabei helfen, Ihren Traum vom Wohneigentum zu verwirklichen.

#dietrich wienecke #lübeck #real estate #germany #investment #real estate investing #home decor

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landcentury · 10 months

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40 acres for sale in Nevada!

#real estate #realestate #realtors #land #properties #real estate investing #property for sale #investing #landforsale #nevada #property investing

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dollar-and-sense · 10 months

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Mastering Personal Finance and Investing: Your Ultimate Guide to Financial Freedom

Introduction: Understanding the Importance of Personal Finance and Investing Personal Finance and Investing: Your Path to Financial Freedom Importance of Personal Finance and Investing for Wealth Creation The Basics of Personal Finance: Budgeting, Saving, and Debt Management Mastering the Basics: Budgeting, Saving, and Debt Management Budgeting Tips for Effective Personal Finance…

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dipnots · 1 year

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Steps to Building Wealth: A Guide to Achieving Financial Freedom

Becoming wealthy is a dream shared by many, but achieving it is not always easy. Building wealth takes time, patience, and a solid financial plan. Here are a few steps you can take to increase your chances of becoming wealthy: Create a budget: The first step to building wealth is understanding your income and expenses. Create a budget that allows you to save and invest a significant portion of…

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gurgaon-real-estate-consultancy · 26 days

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Best Real Estate Consultancy in Gurgaon, India.

#finance #property #real estate #investment #real estate investing

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timmurleyart · 7 days

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100 dollar pig. 🐖💲💰💯💵

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diaryofluna818 · 3 months

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Entry 001: Monday January 8, 2024

My first official week of action. I've spent the last 6 months diving into real estate education, figuring out what direction I want to take, defining my goals and more. Now I have a clear direction, and I'm ready to get started.

What do I want?

Well, I want to quit my job for starters. I know I'm meant for more. I'm not meant for 9-5, and I want to leave a legacy to my future children. I'm building a real estate portfolio that will allow me to generate income that surpasses my day job and let's me create my own schedule, make passive income and increase my net worth. 🙃

Goal this year: Purchase 3 investment properties in the US.

This week:

Complete week 1 of JK Real Estate Quickstart Bootcamp

Make EDO payment to policy

Meet with lawyer and start process to form corporate entities

#1 thing to accomplish tomorrow: watch bootcamp videos.

#real estate investing #real estate #new year 2024

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bernardlepson · 9 days

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US stock trading sharing

As long as you have any investment questions, you can ask me and I can help you solve any investment problems. My confidence comes from the recognition of my abilities

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fathomes · 15 days

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Benefits you Get from Real Estate Investment Flipping

Real estate investment property flipping is an exciting and lucrative venture that has recently gained popularity. The concept involves purchasing properties at a lower price, making necessary renovations or improvements, and then selling them for a higher price. This practice can be highly profitable if done correctly, as it allows investors to capitalize on the rising demand for housing and the potential for appreciation in property values. Flipping properties requires careful planning, market knowledge, and a keen eye for identifying undervalued properties with the potential for a significant return on investment.

Advantages of Property Flipping?

Why should one go for flipping? Well, here are some of the top advantages of flipping that you should know before investing:

Quick Return on Investment (ROI)

Repeatable Procedure

No Property Management Requirements

You Work For Yourself

Add Value

What are The Risks of Property Flipping?

Of course, flipping a home can be a profitable deal. But you must pay attention to the risks that may come along. Some of the most common risks of property flipping include:

Market Changes

Financing Challenges

Legal Issues

Unexpected Repairs and Issues

Market Saturation

Real estate investment property flipping has many advantages. However, investors should recognize and mitigate the associated risks. These can include market shifts, unexpected costs, and legal issues. Flipping offers dynamic and profitable investment opportunities to those ready to take risks. To learn more, visit our website or the link provided below.

Source: real estate investment flipping

#realestate #flippingamericatoday #flippinghouses #property #investment #real estate agent #real estate services #real estate consultant #real estate investing #fathomes

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texasrealtor1968 · 1 month

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Duplex for sale near Bishop Arts

[email protected] 214-458-0363

#realestate #passive income #incomeproperty #dallas texas #duplex #bishoparts #real estate investing #texas #home & lifestyle #homebuyers

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