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Tax, SDIRAs & Cost Segregation

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Bill Adams
  • Investor
  • Glencoe, MO
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Highest Tax Bracket, Trying To Push Income To Next year - Tips?

Bill Adams
  • Investor
  • Glencoe, MO
Posted Dec 7 2017, 10:29

Hi all, 

I have income that comes in from the highest tax bracket possible (over $1mm a year). I do have a strong CPA but was curious if anyone has any tips on things to look into that I might be able to do before the year closes. I expect my tax bracket will be a little better next year and I plan on investing in more real estate for bigger write-offs. This year, I'm behind 8-ball as I focused on my company and building. 

I was thinking about prepaying some expenses that will be inevitable, like insurance, maintenance, etc., but outside of prepaying .... any ideas? Cost segregation isn't an option at this point and there wouldn't be enough time to properly value a deal and buy something. 

I do not need a large vehicle for my business. 

I have a $7,500 writeoff I believe I get for our Tesla recently purchased

I am maximizing my SEP plan.

I have 11 properties, all rentals, but only two are 100% mine and my partner would not to accelerate as he is not in the same financial situation as I am. 

Any advice on something to look into would be greatly appreciated! 

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