230: Tom Wheelwright | How To Be A Real Estate Pro, Bonus Depreciation

230: Tom Wheelwright | How To Be A Real Estate Pro, Bonus Depreciation

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If you work at a W-2 job, learn how to reduce your taxes. Become a “real estate professional”. If you’re married with a stay-at-home spouse, you increase your chances. To qualify as a real estate professional, RE must be your principal activity and consume at least 750 annual hours. There are four income types for tax treatment:     1) Earned     2) Ordinary     3) Capital gains     4) Passive Passive losses are only deductible against passive income. We’ve recently undergone the most sweeping ... See More

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