Who would like to SIGNIFICANTLY reduce their income tax obligation for the year!? Let’s talk about a tax loophole related to investment properties…
You buy a short term rental and take on the management of the property. Then, you do a “cost segregation study” after you close, and this is where the big tax savings come in…
Generally, with an investment property, the IRS lets you use depreciation of that property as a write off (typically, spread over 29 years)… But, after a COST SEGREGATION STUDY, you can write off many parts of the home (flooring, appliances, cabinets) much faster.
It’s called accelerated (or bonus) depreciation. The Tax Cuts and Job Acts allows you to write off 80% of all items in the “accelerated depreciation” category this year to offset your W2 income!
Ready to nearly wipe out your income tax obligations? Let’s talk about investment properties!
