Updated almost 2 years ago on . Most recent reply
Reno NV BRRR investing
Looking for some info on the Reno market. I know it's hot but wondering if any BRRR possibilities there. I'm in CA and BRRRing in Louisiana but CPA has advised us to buy in low tax state
Most Popular Reply
@Kathy Zickenberg
It doesn't seem like your CPA is providing accurate advice.
It doesn't matter much about the income tax rate of the state you plan to invest in.
You live in CA which is a state with one of the higher tax rates.
Furthermore, rental properties, will likely show a tax loss as a result of depreciation(not guaranteed, but likely).
Good thing is that California is not a gross income state and they will allow you do reduce your taxable income from rental properties so long as you meet the AGI threshold(below $100,000 - $150,000 threshold).
- Basit Siddiqi
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- 917-280-8544
