Tax Filing Mistakes, Mortgage Loanability, and Becoming Friends With Your Mortgage Loan Officer | Brenna Carles

Ready to save $10k-$50k in taxes this year? Book a call here:

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In this episode, I sit down with Brenna Carles from The Mortgage Shop to break down the biggest mistakes real estate investors make when filing taxes and applying for loans. We dive into the differences between Schedule C vs. Schedule E, how to avoid overpaying in taxes, and how to qualify for more loans to expand your property portfolio. Brenna shares practical advice on loan strategies, partnerships, and even how to shift debt to maximize your borrowing power. If you're looking to optimize your financing, this episode is packed with insights you can’t afford to miss.

Timestamps:

00:00:00 — Intro

00:00:37 — The importance of Schedule E vs. Schedule C for real estate investors

00:03:36 — Why Schedule C can block you from qualifying for loans

00:04:17 — How Schedule E can increase borrowing capacity for investors

00:07:15 — Key deductions for Schedule E filers (T.I.M.D. method explained)

00:09:40 — Real case study: How one mistake cost a client $18,000 in extra taxes

00:11:31 — How Brenna manually verifies loan eligibility to avoid last-minute surprises

00:14:49 — The myth of "just trust your accountant" — Why you need to check their work

00:16:04 — Using Form 8825 for partnerships and how it works like Schedule E

00:19:47 — Strategy alert: Why you should shift bad debt into your spouse's name

00:22:27 — How to shift loans from your personal name to an LLC using DSCR loans

00:25:31 — Avoid analysis paralysis — How to take action without overthinking

00:27:28 — Why making calculated risks can lead to life-changing wealth decisions

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► https://taxstrategy365.com/pod-ama

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*None of this is meant to be specific investment advice, it's for entertainment purposes only.