What are doing it wrong?

[Berdine Ramos]

Currently husband and wife have W2 jobs that combined put us a little over $250k. Because of that income our tax guy is stating we loose all our write off benefits from our 1 rental and is actually discouraging us ( tax wise) from further investing. We are in Southern California and have enough equity to invest in something out of state.

Any thoughts??

[Nate Sanow]

You said “income tax guy.” Is he not a CPA? If not, that’s my first suggestion. If you’re calling CPA tax guy, disregard. But do definitely seek a CPA… you may know that of course… did this tax person talk about depreciation? Also is the goal going OOS to save in taxes or would you anyway? The depreciation should help a little. But I think often we do watch certain people online who say they pay no taxes because of real estate and there’s so much missing context to that (self employed vs employed for one).