Time is running out, and you have only two months left to tap into valuable tax-saving opportunities for 2023. Welcome to Part 2 of our Tax-Saving Series, where we delve into the powerful tax benefits of being a “Real Estate Professional.” The best part? You don’t need a real estate license to qualify!
A Real-Life Example
Imagine you have a W-2 income of $100,000 and real estate losses, including depreciation, totaling $40,000. Normally, you’d be taxed on the full $100,000 income. However, if you meet the criteria to become a Real Estate Professional, you can offset your income with these real estate losses, reducing your taxable income to $60,000. At a 30% tax rate, this translates to an impressive tax savings of $12,000!
Kinnera’s Tax Savings Journey
Discover how Kinnera, a business owner, unlocked hidden tax savings through her Tax Savings Assessment. She fulfilled all IRS criteria by dedicating her time to real estate activities. She offset her business income with real estate losses, resulting in substantial tax savings this year.
Don’t miss your chance to uncover hidden tax savings. With only two months left in 2023, schedule your tax assessment with us today and explore how real estate can be your golden ticket to reduced tax liability.