The Real Estate Tax Secret The Rich Keep From You

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00:00 - Introduction and Overview: Understanding Short-Term Rental Tax Benefits
03:24 - Tax Benefits for Real Estate Professionals: Insights and Strategies
06:09 - The Short-Term Rental Loophole: A Deep Dive into Tax Write-Offs
09:52 - Criteria for Tax Write-Offs: Understanding the Essentials
14:00 - Cost Segregation Analysis: Maximizing Your Depreciation Expenses
17:54 - Airbnb Investments: Personal Experiences and Recommendations
22:20 - Strategic Planning and Risk Management in Property Investment
24:33 - Book Recommendation: "Optimize Your BNB" by Daniel Rusting for Airbnb Success
28:19 - Conclusion: Summing up the Key Takeaways on Short-Term Rental Tax Benefits
#Taxes #avoidtaxes #paylesstaxes #wealth #tax #realestateinvestment #Markjkohler #KKOSLawyers #markjkohlerLIVE #Entrepreneur #rentalrealestate #taxplanning #smallbusiness #taxlaw

Опубликовано:

9 июл 2024

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Комментарии : 146

@Riggsnic_co 8 месяцев назад

I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!

@maga_zineng7810 8 месяцев назад

One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.

@CraigChap_6898 8 месяцев назад

Working with a Financial Advisor to help guide you on your wealth-building journey if you're just starting out is a wonderful way to get started and thats how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal

@usieey 8 месяцев назад

please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

@CraigChap_6898 7 месяцев назад

My advisor is Christine Jane Mclean’’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market

@usieey 7 месяцев назад

she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing

@chriscatonthrives 9 месяцев назад

Anyone who has not retained KKOS services are missing out, the team has been the best firm we've come across to date! Look forward to working more in depth as our unique business model and assets gets the pieces together! Keep up the great work guys!

@dethray1000 9 месяцев назад

the math adds up

@tahirisaid2693 9 месяцев назад

I worked my ass off with 2 full time jobs and extras on the weekend. Saved up 25k and handed that over to my financial Adviser to put down and for investing. So I continued working my ass off and in less than three months I was able to lay my hands on my first property.

@tahirisaid2693 9 месяцев назад

I started out with a financial advisor called *" Rochelle Dungca Schreiber ".* Her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable given my ROI. However, do your due diligence before contacting a financial advisor.

@chriswalter92 9 месяцев назад

Rochelle appears to be very knowledgeable. I found her webpage and read through her resume, educational background, and qualifications, which were all very impressive. She is a fiduciary, which means she will act in my best interests. So I scheduled a call with her.

@PatriciaGabrielaTorres 9 месяцев назад

If you wanna be successful, you must take responsibility for your emotions, not place the blame on others. In addition to making you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life...

@MuhammadBagus02 9 месяцев назад

Absolutely. Market success requires emotional maturity

@bsquarebuilding 9 месяцев назад

The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional

@Santiagomanuel240 9 месяцев назад

the market is profiting if you are using a good broker or account manager to help out with trades or provide signals

@muhammad72673 9 месяцев назад

I'll recommend Expert Mrs. Theresa Walton to you. She's the best I've seen. She trades my fx account and makes me good profits weekly

@sirmoritzo.schulte5392 9 месяцев назад

So you guys know her too?... Wow, she made me have my own house and car. She is awesome

@jamesathome5167 9 месяцев назад

I used KKOS form to help me set up LLCs and living trust. After 10 months I went to county to check my rental properties still under my personal name . It has not been transferred to the LLCs . They don’t make things clear about all the documents and details. I emailed them back ask what’s going on . I feel like they did not have a good communication with us . A little bit disappointed with their service .

@WealthBuilderTeam 9 месяцев назад

Mark is the best seasoned and consistent

@danieldelacerda1 9 месяцев назад

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@arthurnn 7 месяцев назад

Solid video and strategy. Liked and subscribed

@j10001 9 месяцев назад

Nice video. Thanks!

@danieldelacerda1 9 месяцев назад

‼️‼️YOUR VIDEOS ARE PRICELE$$ MY FRIEND ‼️‼️‼️‼️‼️‼️

@tigerrx7 9 месяцев назад

A lot of cities are starting to clamp down on short-term rental in the last month.

@sasharadjenovic4230 9 месяцев назад

Ya-Hoo!! Long overdue. These nightmare rentals need to go!!

@chad6211 9 месяцев назад

Mark, in a prior video you had mentioned that a disadvantage of doing cost segregation you could not do a 1031 exchange on the property at a later date, is this true for Short term rentals?

@duneme 9 месяцев назад

I have 4-Rental Houses and as time goes on they are turning into very long term (yes, I’m responsibly raising my Rents!) We are diversified as well! We may need to talk! Always looking for more right off!

@macoeur1122 9 месяцев назад

Can I do this with an ADU on my property or a conversion to my garage and the cost that I incurred getting this short term rental up and running?

@AKDisobey 9 месяцев назад

Can this year's write-off be used in subsequent years or has to apply to this year's income?

@user-rw5mg5yp8d 6 месяцев назад

Will this work if converting ADU (currently living in while main house is rehabbing) to short term rental in summer of 2024

@christianrooney4428 9 месяцев назад

Is it possible to wrap a commercial property with the short term rentals. In other words, how can I get a cost Seg on a commercial property without being a real estate professional?

@lmnation9677 9 месяцев назад

Can that short term strategy be combined with an Travel trailer/ RV purchase? Super depreciated, etc. If I can get one purchased by years end. Rent out and get the hours in? Still then offsets W2 income?

@CloDPT1 9 месяцев назад

Can you do this at any point? I have had a vacation rental for 3 years

@user-hm1tm5kk2t 9 месяцев назад

Can cost seg losses be used to offset Capital gains from stock liquidations in the same year?

@stickybandit2346 6 месяцев назад

How can you take depreciation? Properties go up in value every year.

@tw2800 9 месяцев назад

The rich don't keep any information from you to prohibit the "poor" from making money....information is available to all classes of society....whether or not people educate themselves is up to them

@entnous53 8 месяцев назад

Also you can do the 500 hours and not 100 hours, correct? Could you have a property manager but still work the 500 hours? And is it both spouses so each spouse could work 250? And do the election to combine 2 Airbnbs for the 500 hours?

@sumeetbedi1042 9 месяцев назад

Excellent information as always. Just want to confirm if the 100 hours test starts from the time of purchased or from the time the rental begins as an airbnb. Because I always spend a lot of time furnishing the place, but the rental takes face after that. Thanks and keep on educating us.

@j10001 9 месяцев назад

Good question. He said it can include the hours arranging the purchase, so that’s even before the sale happens.

@kyleward5249 9 месяцев назад

Would I be able to write these loses off against income from K1's from another entity? (k1 income is also real estate)

@kkaalaas 7 месяцев назад

what if we can't close by the end of this year?

@CarlosFuchen 6 месяцев назад

Too late to do something for 2023, will this (loophole) be available for 2024?

@invictus_1511 9 месяцев назад

How do I add my family members to my board in my single member LLC

@j10001 9 месяцев назад

Do LLCs even have boards?

@eoliverjdmba 9 месяцев назад

What about pass thru losses with S Corps or LLCs?

@jadepuma 9 месяцев назад

Can the CostSeg be done if the property is contained within a Self-Directed IRA?

@j10001 9 месяцев назад

Can you continue taking the tax write off even after converting to a mid-term or long-term rental?

@arthurnn 7 месяцев назад

The main idea here is to take the big write off at year one with cost-seg and bonus depreciation. If you want to keep getting the write off as active and not passive income, you got put the hours still on that tax year

@andygordley2391 8 месяцев назад

Will this work if I buy a property in another country (like Costa Rica)?

@erinparsley 8 месяцев назад

Interested in this answer as well

@davidlloyd8135 9 месяцев назад

This deduction is used to offset profits from the short-term rental or can it be used to deduct from my regular job income. If my regular job is over $250k, still apply?

@robinsevern-fischette3783 8 месяцев назад

where is you CA STR? Ive had an STR in Nashville since 2016- it is my main home and when I am traveling I short term rent it out. I have NO idea if ive taken any of these loopholes, the rules change over time. I am now (waiting on the # ) a licensed realtor in TN so not sure how that will change as well. would love some advice

@dmikaels2199 9 месяцев назад

Can you take advantage of this by buying a property with 1031 exchange funds?

@sheriwalters9797 9 месяцев назад

Marc, where is the video on buying investment property in a roth and how to handle it?

@nfaoussoukouyate1963 9 месяцев назад

Money source very important

@AngelWVictoria.- 9 месяцев назад

Amazing video and thank you for breaking it down!! Despite the economic downturn, I'm so happy 😊I have been earning $ 60,000 returns from my $9,000 investment every 21days.

@Helenalopez979 9 месяцев назад

This must be an investment with *Ms* lauren

@jkint8520 9 месяцев назад

Wow I'm just shocked you mentioned expert Lauren thought I'm the only one trading with her

@Ann1Dunwoody 9 месяцев назад

@AngelWVictoria.- 9 месяцев назад

Actually *I* trade on a platform, with assistance from their top Mrs Lauren is my professional assistant, I have been trading with her for 8 months now... I've really made a lot from her strategies in trading

@Ann1Dunwoody 9 месяцев назад

That's amazing, I have been hearing about Mrs Lauren and her genius mind in the cryptô market, please how did you earn such good amount?..

@graywilliams_77. 9 месяцев назад

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

@user-xp6sc6su9c 9 месяцев назад

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person

@user-xp6sc6su9c 9 месяцев назад

I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.

@user-gj2hm4ob3t 9 месяцев назад

All that depreciation comes back in recapture when you sell, so make sure to 1031 Exchange it down the road ;-)

@SabrinasTVTube 9 месяцев назад

Here I am up late consuming as much knowledge on building wealth and becoming financially free…one podcast at a time 😵‍💫

@choski76 5 месяцев назад

Can a retiree without a regular income do this? I.e. be able get a loan?

@davidlloyd8135 9 месяцев назад

I have to do 100 hrs more than any other worker on the project?

@bigt8417 9 месяцев назад

Does this only work with STR or can I use this with a MTR?

@macoeur1122 9 месяцев назад

Pretty sure he said it was only STR. Watch the video again?

@funmiester 9 месяцев назад

One point: the STR (not MTR or STR) must have an AVERAGE STAY OF 7 DAYS or less

@frankshattuck1975 9 месяцев назад

Pass the fair tax act

@davecalico3273 9 месяцев назад

provide an Escort😋 didn’t realize Ford still made those😛 - but then u are into a whole nother rental w/insurance

@j10001 9 месяцев назад

<a href="#" class="seekto" data-time="535">8:55</a> The 100 hours has to be more than anyone else?? EDIT: I see you answered this (yes) at <a href="#" class="seekto" data-time="1280">21:20</a>

@shorts_luv7634 9 месяцев назад

Sick and tired of paying taxes when I sell one of my rental properties.i have already paid 70,000 in taxes.irs is brutal if you decide to make monthly payments

@rkgunn 9 месяцев назад

Other options than the 100hrs? What about just spending more time than anyone else?

@NeedsMoreToys 9 месяцев назад

So the 35% accelerated depreciation is only available for short term rentals?

@user-gj2hm4ob3t 9 месяцев назад

The 35% number was just tossed out. It depends entirely on the asset that is being depreciated. The building is depreciated over 27 years. The carpets? Three years. The furniture? Maybe the same. How about the HVAC unit? IRS has a list of all these items. I think his 35% is really high. You cannot depreciate the land. Best is to simply look at your property tax bill, it will give you a percentage of how the taxes were figured: Example: 67% might be for the building and 33% of the bill might be for the land. In that case, you depreciate 67% of the purchase price (ie, the building). Now, you look at the building and (if you want) take the time to list all the "accelerated depreciation" table (IRS) as to how fast you can depreciate specific items. Most investors simply expense those things rather than depreciate them. I don't "depreciate" carpeting, I just write the cost off (there are limits to how much you can "expense" rather than depreciate).

@j10001 9 месяцев назад

@@user-gj2hm4ob3t Interesting. Thank you for this essential detail!

@logic25r 9 месяцев назад

Can you buy a property out of the country for Airbnb and still get tax deduction?

@erinparsley 8 месяцев назад

Interested in this answer as well

@mekrobar7872 9 месяцев назад

I'm starting a business and need a accountant, or tax adviser or something. I'm about 3 weeks out from opening. I have a decent amount of cash on hand, a lot of product and am just waiting on website and looking for someone to make youtube videos for my products.will be a successful business, but i need advice on what to do to maximize profits and tax deductions. Are you for hire? Thank you.

@mekrobar7872 9 месяцев назад

P.s., I'm in California if that matters.

@MarkJKohler 9 месяцев назад

Hi there, we would love to help you! Please get connected with one of the amazing tax advisors from our Main Street Certified Tax Pro network - we help clients nationwide. Get connected here: markjkohler.com/tax-pro-profiles/ - thank you!

@tomyocom5886 9 месяцев назад

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@masterlymoney2635 9 месяцев назад

The government has really made things difficult for us, everyone needs more than their salary to be financially stable, as I consistently make $23,000 in cryptocurrency investment profits every 15 business days, I am no longer dependent on government salaries to survive now that I have time for my family and life ahead.

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my life is totally changed because I've been earning $ 15,250 returns from my $ 4,000 investment with Marie Brandon

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I heard a lot of investing with Her and how good she is , please how safe are the profit ?

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I traded with her , The profit are secured and over a 100 % return on investment directly sent to your wallet .

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After watching so many RU-vid tutorial videos about trading I was still making losses untill Mrs Marie started managing my investment now , I make $ 6,800 weekly . God bless Mrs Marie Brandon. she has been a blessing to my family .

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I'm glad I got into crypto when I did because it's been a turning point for me financially been my best so far.

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@michaelpaul9179 9 месяцев назад

This is a scam guys. I know first hand. You will lose your money, guaranteed.

@vitaminboss 9 месяцев назад

This can only be done within the first year of purchase not in the following year? What if the property that was purchased had the sellers remain as tenants for the first few months?

@danieldelacerda1 9 месяцев назад

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@PatriciaGabrielaTorres 9 месяцев назад

@bigt8417 9 месяцев назад

Can I do this with an ADU on my property or a conversion to my garage and the cost that I incurred getting this short term rental up and running?

@user-gj2hm4ob3t 9 месяцев назад

Your zoning will likely not allow it. ADUs are typically long term

@macoeur1122 9 месяцев назад

@user-gj2hm4ob3t I have the exact same situation. Are you saying that zoning won't likely allow short term rental? I know for a fact that mine does. I got it all approved and registered before I even converted the garage. So the question remains...

@user-gj2hm4ob3t 9 месяцев назад

@@macoeur1122 Yes, typically zoning regulations (and HOAs) prohibit short term (less than seven days) rentals. Of course if you are located in an area of hotels, motels, all bets are off. In my neighborhood nothing less than 6 months.

@danieldelacerda1 9 месяцев назад

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@danieldelacerda1 9 месяцев назад

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@danieldelacerda1 9 месяцев назад

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@danieldelacerda1 9 месяцев назад

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