Tax Question:. Do I make to much in my day job?

[John Hanna]

Greeting Bigger Pockets Family:

I have a few rentals that I could write-off some significant losses on but I was told by my tax preparer because I make over $150k/year I won't be able to take advantage of any significant losses and that the losses can only be carried over. Is this true? If so, what are some Strategies others have worked with in this scenario?

Thanks,

John

john

[Christopher Smith]

A very good reason to be very selective in the properties that you choose, all of mine make a profit AFTER depreciation. Solid economics trumps tax benefits hands down every time, plus tax benefits are a given you get them no matter what. Solid properties are much harder to find true, but much more valuable when you find them. They become keepers for life. 

Don't let the tax tail wag the dog. This comes from someone who has put together complex transactions for maximum tax benefit for more years than I care to admit.