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How to use real estate to reduce W2 taxes?
My wife and I make ~$500k/yr. I'm an software engineer on W2 and she started as real estate agent about 2yrs ago. We are looking for ways to reduce taxes on the W2. We currently do not own any rental properties. We did in the past, but sold it all at one point. We are 36 and 34.
What real estate strategy would you recommend us to aggressively reduce taxes?
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Julio Gonzalez
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Julio Gonzalez
#4 New Member Introductions Contributor
Pro Member
#4 New Member Introductions Contributor
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- West Palm Beach, FL
Is your wife able to claim real estate professional status? If so, you could buy rental properties and utilize cost segregation to reduce your current tax bill.