Never Pay Taxes With Real Estate Investing
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- Опубліковано 25 вер 2023
- Taxes are the biggest expense that you'll ever have. But what if there was a way to pay less as a real estate investor?
In this video, we'll dive into the different ways that you can pay less taxes with real estate investing and how you can maximize these tax savings, especially if you're into long-term rentals.
✅ If you want to pay less property taxes every year, then check out Ownwell to help you with your appeal! www.ownwell.com/?owl=3C83DZ4F4
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*Please note that the information in this video is for educational and entertainment purposes only and should not be taken as financial or investment advice. Any investments or financial decisions you make based on the information in this video are at your own risk. The links in the description above may include affiliate commissions or referrals, and I may receive compensation from partner websites. The information in this video is accurate as of the posting date but may not be accurate in the future.
Omg! Love this content! I need to watch it again and ask you more questions. 😊
Appreciate it! ☺️
Thanks Sean, I have a question regarding being a real estate professional supposing I qualify.
Does the IRS require I only invest in one or multiple properties suppose I buy a rental and spend $30K to fix it up. I can claim that entire $30K in upgrades against my W2 income/taxes right? Also does it matter my claim is against only one rental property? Or does the IRS require to have more?
Sean you are the best
Thank you! ☺️
🎉Thanks🎉
You’re welcome. Thanks for watching!
Really great and informative video, Sean
Thank you, Steven! :)
*Amazing content. You are still the best! It's been a year since I found ways to improve my finances and by working with a recognized professional, I was able to achieve financial independence. I have to say this; “As long as you have determination and work hard, you can achieve anything you set your mind to.”*
Great video! Can you also make a video on how to buy your first home? Thanks!
Thanks for the suggestion, I’ll look into it. ☺️
Yessir..
👌🏼
@1:34 Is that 2.5 years or 2 to 5 years?
Living in it for 2 years out of the past 5 years
Not first!
I see so many affiliate marketing, dropshipping, earn money using other people UA-cam accounts, etc. I feel like they are scam because no way they are making that much people making that much money. Are they a scam?
I’m confused with your question. Are you asking if affiliate links are scam?
hi Sean great information, but talks to fast.
I’m working on that 😂
Change video speed, easy listening for you then 👍
This guy's a hack. He's leveraged to his eyeballs and would be under a bridge if one or a couple of his mortgages was called/accelerated - which isn't necessarily unusual if deeds are transferred into a LLC/Corporation. In addition, while he may have enough money to service his debt without rental income now, he didn't start out that way - and you won't be able to. Also in his current leverged-to-his-eyeballs position, he relies on his tenants paying. Tenants don't always pay and evictions are expensive. Hope isn't a strategy, so plan for that and have the cash reserves to continue servicing the debt for as long as evictions typically take in your area. Finally all of his tax write-off BS works fine until you get audited. If you fly to Orlando every weekend and claim a deduction for every flight, the IRS may not accept that all of those trips were business related upon audit. In short: don't take investment and tax advice from a UA-camr. You're better off sticking to public accountants, fiduciaries, a CFP, or a tax attorney.
I appreciate your comment even though it's generally negative and makes a lot of incorrect assumptions about how we run our business. We're actually relatively underleveraged on our portfolio and own a few of our properties free and clear. I've only cashed out of one of our properties and have left tons of equity in the others so that we could have peace of mind.
When I purchased properties, I made sure to have enough in reserves in case I lost my job and had a vacant unit. I heard too many horror stories from my old co-workers who suffered during the 2008 GFC to make the same mistakes.
It's true that tenants don't always pay, but that's why we have multiple properties in different locations to diversify the risk of one sector going bad.
I also agree that hope isn't a strategy, and it is a good idea to always keep funds in reserve.
Finally, it should be obvious that if you abuse any of these strategies then it probably won't work out. Like you said, if I'm going to Florida every weekend, the IRS will probably think something weird is going on and may tell you that some of your trips are non-deductible.
But if you're going on these trips for legitimate business reasons, and happen to stop by your family's home or Disneyland, then the trip is deductible.
Again, this video is meant to give the viewers an idea of what's possible. They should definitely take this information and speak with their tax professional before implementing any of these strategies.
Thanks for watching!
stooping ppl from saying first 🤑
😂
YOU BUY FOLLOWERS 😂
Who cares. This is a very good informative video
100% organic, most are from shorts though and they don't seem to convert to long form views, unfortunately
Thanks!
@@seanlovesrealestate i meant instagram :'(
What do you mean? Is it because of all the spam bot comments on instagram?
We know it’s a good day when Sean uploads
To prove I don’t want likes EVERYONE DONT LIKE THIS COMMENT
cringe asf i’m sorry 😭 Bro posted 4 comments
@@freshspringroll1610 correction 2 comments
lol thanks
SAM HYDE found this dude, he goona make us rich and get the ladies