Real Estate and Taxes
Hello, We just got our taxes back from our accountant and again have a sizeable payment to make to both the state of NJ and Federal Government. We currently own 9 units which all cash flow well. What can or should I be doing to reduce the payments Im making in taxes each April for the past couple years? I read a lot about how real estate offers tax benefits, but maybe Im missing something (or need a new accountant?) Any advice to prepare for my 2021 return? When I asked my accountant response was
"do a lousier job of renting and managing the properties" Thank you in advance.