W2 Income Tax Deduction Strategies through Syndication
Hi Guys!
I am new to the Bigger Pockets Family. But I am in great distress seeing how much taxes are deducted from my W2 income. I need help with understanding how to reduce my taxable income strategically through syndication and/or apartment investing. Here are my questions below. Thank you so much for all your answers in advance!!!
1. If I were to syndicate an apartment with other investors. How does the reduction in taxable income work? Do I write off the whole depreciation to myself if I have other passive investors? or is it dispersed by all the investors?
2. If I were to invest in an apartment property myself, how would the deductions work numbers-wise? I am trying to understand numerically how I can reduce my taxable income legally through apartment investing.