Tax Strategist and Accountants?
Hello all,
In summary, I am a new real-estate investor. I am working to close on my second property this year. My market is rentals in Philadelphia, by year end I will have two triplexes (6 units total).
I am a high earning W2 employee and switching to independent contractor (hopefully earning more).
Again, I am new to real-estate, so I am understanding that the passive income from investment properties starts off as somewhat minimal and is not going to make me rich overnight. But my understanding is also that there can be tremendous tax benefits / write offs when it comes to real-estate.
I am looking for more guidance from professionals on how to structure my investments and how I could potentially harness the power of depreciation and write-offs to legally save money on my active earned income. I know this is feasible (having to meet specific criteria) but I just do not know where to start. My hope is to continue investing heavily into properties and utilizing their tax benefits!
If anyone could refer me to a good tax strategist and accountant, or had any personal wisdom on this topic, I would love to discuss further!