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934: How to Pay Less Taxes by Buying Real Estate (1 Write-Off You’re Overlooking) w/Brandon Hall
BiggerPockets Real Estate Podcast
Tax Deductions and Pending Legislation Impacting Real Estate Investments
A cost segregation study can help allocate a tax deduction of 250 to 300 thousand dollars in the first year of purchasing a multi-family property. Pending legislation aims to increase bonus depreciation from 80% to 100% retroactively from 2023, leading to uncertainty for taxpayers. As the bill is stuck in the Senate, tax returns are in limbo, potentially causing compliance issues and extra costs. Therefore, it is advisable to consider filing for an extension until there is clarity on the legislation.
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