1 hr 7 min

REPS 02: How You Can Offset W-2 & Active Business Income by Qualifying as a Real Estate Professional The Real Estate CPA Podcast

    • Business

The Real Estate CPA 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 dvice 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.

Always consult your own tax, legal, and accounting advisors before engaging in any transaction.
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By default, rental losses are passive. They can only offset other passive income. Qualifying as a real estate professional allows you to take rental losses against W2 or active business income.

Brandon and Thomas discuss how to qualify for the real estate professional status as well as material participation, two very important concepts to turn your losses nonpassive to offset your W2 or other active business income.

If you haven't already listened to REPS 01, check it out first. This is the second episode in a four-part series.

Get the REPS Time Log here: https://share.hsforms.com/1pk5H4vCmR5SjV2KpBck2_g311bf

To grab the recordings from the 2021 Tax and Legal Summit visit: https://recordings.taxandlegalsummit.com/ today!

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

For a free consultation from The Real Estate CPA visit www.therealestatecpa.com/become-client

Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa

Like us on Facebook
www.facebook.com/realestatecpa

The Real Estate CPA 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 dvice 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.

Always consult your own tax, legal, and accounting advisors before engaging in any transaction.
--
By default, rental losses are passive. They can only offset other passive income. Qualifying as a real estate professional allows you to take rental losses against W2 or active business income.

Brandon and Thomas discuss how to qualify for the real estate professional status as well as material participation, two very important concepts to turn your losses nonpassive to offset your W2 or other active business income.

If you haven't already listened to REPS 01, check it out first. This is the second episode in a four-part series.

Get the REPS Time Log here: https://share.hsforms.com/1pk5H4vCmR5SjV2KpBck2_g311bf

To grab the recordings from the 2021 Tax and Legal Summit visit: https://recordings.taxandlegalsummit.com/ today!

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

For a free consultation from The Real Estate CPA visit www.therealestatecpa.com/become-client

Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa

Like us on Facebook
www.facebook.com/realestatecpa

1 hr 7 min

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