By a Trusted CPA: How to use real estate to avoid paying taxes...
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So yes, it is possible to buy real estate, show a taxable loss even though you made money, and use that loss to offset other income you have on your tax return.
And yes, all of this is 100% legal and is quite literally in the tax law.
And all you have to do is sit-back, relax, and stick around for a few minutes here and I will show you exactly how to do this.
Timestamps:
Tax Benefits of Real Estate: (0:00)
Step 1: Invest in Rental Real Estate: (2:37)
Types of Rental Real Estate: (3:08)
Step 2: Understanding Depreciation: (3:40)
A Non-Cash Expense?: (4:10)
How Depreciation Creates a Loss: (4:45)
Step 3: Accelerate Depreciation (6:30)
Cost Segregation Study: (7:20)
Example of Cost Seg Study: (8:38)
Step 4: Using Rental Losses to Offset Income: (10:25)
Passive Loss Rules: (10:45)
Exceptions and Loopholes: (11:15)
Qualify as Real Estate Professional: (11:33)
Income Exception: (12:32)
Short-Term Property Exception: (13:10)
Make Earned Income Passive?: (13:51)
Step 5: Buy More Rentals: (14:45)
Tax Plan?: (15:50)
