246. How To Legally Reduce Taxes on W-2 & Other Active Income

Nov 7, 2023

Learn about effective strategies to reduce taxes on W-2 and other active income through real estate. Understand the risks of relying solely on tax benefits from short-term rentals. Discover how solar credits can offset tax liability on rental properties. Explore major income offset strategies and the benefits of becoming a private client for tax advice.

Ask episode

Chapters

Transcript

Episode notes

Introduction

00:00 • 3min

Strategies to Reduce Taxes on Active Income through Real Estate

03:21 • 9min

Risks of Investing in Short-Term Rentals for Tax Benefits

12:07 • 11min

Understanding Solar Credits and Tax Liability on Rental Properties

22:38 • 2min

Benefits of Becoming a Private Client and Major Income Offset Strategies

24:57 • 2min

In this episode, Brandon Hall and Thomas Castelli discuss how to reduce the tax you pay on W-2 and other active income, including: - Real estate and general tax strategies - Key tax deductions - Available tax credits There's a lot of shady things out there on the internet - this episode sets the record straight. Apply today: www.therealestatecpa.com/careers Email suggestions for podcast growth to: hello@taxsmartinvestors.com Become a Tax Smart Insider today and claim your free bonuses today at www.taxsmartinvestors.com/insiders Enroll in our Tax Strategy Foundation for Limited Partners course: www.taxsmartinvestors.com/limitedpartners Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa Join our Facebook group, the one-stop-shop for real estate investors to learn about tax strategy and stay up to date on changing tax laws: www.facebook.com/groups/taxsmartinvestors To become a client, request an initial consultation from Hall CPA, PLLC at www.therealestatecpa.com/become-client Follow Brandon on Twitter: @bhallcpa Follow Thomas on Twitter: @thomascastelli_ The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.