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Tax Benefits With Real Estate Investing
I am starting my REI journey in Oklahoma City,OK and interested in learning more about tax benefits specifically for investment properties acquired under an LLC. I've put together a list of questions and appreciate any feedback at all:
Can you deduct 100% of capital improvements? Would this be the quickest method of tax sheltering in a high income earning year?
Can you begin deducting with depreciation the same year you acquire a property?
Can you deduct the closing costs associated with establishing a HELOC?
Does anyone out there in BP have book recommendations to learn more about tax benefits?