Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
Market Trends & Data
Buying & Selling Real Estate
Out of State Investing
Real Estate News & Current Events
Real Estate Technology
Investor Mindset
General Info
BiggerPockets Exclusive PRO Area
PRO
General Real Estate Investing
BPCON
New Member Introductions
Questions About BiggerPockets & Official Site Announcements
Off Topic
Starting Out
Real Estate Success Stories
Real Estate Horror Stories
Real Estate Strategies
House Hacking
Commercial Real Estate Investing
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Mobile Home Park Investing
Innovative Strategies
Multi-Family and Apartment Investing
Land & New Construction
Wholesaling
Rehabbing & House Flipping
Short-Term & Vacation Rental Discussions
Tax Liens & Mortgage Notes
Medium-Term Rentals
Buying & Selling Small Businesses
Outdoor Hospitality
Landlording & Rental Properties
General Landlording & Rental Properties
Managing Your Property
Marketing Your Property
Tenant Screening
First-Time Home Buyer
Real Estate Professionals
Mortgage Brokers & Lenders
Contractors
Real Estate Agent
Financial, Tax, & Legal
Creative Real Estate Financing
Personal Finance
Private Lending & Conventional Mortgage Advice
Insurance
Tax, SDIRAs & Cost Segregation
Foreclosures
1031 Exchanges
Goals, Business Plans & Entities
Legal & Legislation
Real Estate Classifieds
Classifieds
Real Estate Events & Meetups
Reviews & Feedback
Ask About A Real Estate Company
Real Estate Deal Analysis & Advice
Guru, Book, & Course Reviews
Syndications & Passive Real Estate Investing
Jon Fletcher's profile image
Jon Fletcher's profile image
Jon Fletcher
  • Member since Aug 15, 2021

User Stats

174
Posts
56
Votes
Jon Fletcher's profile image
Jon Fletcher's profile image
Jon Fletcher
  • Member since Aug 15, 2021
Jon Fletcher
56
Votes |
174
Posts
Tax, SDIRAs & Cost Segregation

Switch from W2 Employee to Consultant for Tax Savings

Jon Fletcher
Posted

Does anyone have experience with asking their employer about switching from a W2 employee to a consultant so that you can take advantage of the Real Estate Professional status? If the employer pays your LLC S-Corp instead of you as an employee, does this open you up to tons of tax savings opportunities? I'm interested in hearing from anyone who has done this, or any of the CPA's out there.

Upstate New York, New York
0 Votes
Follow
10 Replies
Jump to Last Reply
Log In or Sign Up to Reply

Most Popular Reply

Ashish Acharya's profile image
Ashish Acharya's profile image
Ashish Acharya
  • #4 All Forums Contributor
  • CPA, CFP®, PFS
  • from FL
  • Member since Apr 18, 2017

User Stats

5,221
Posts
3,661
Votes
Ashish Acharya's profile image
Ashish Acharya's profile image
Ashish Acharya
  • #4 All Forums Contributor
  • CPA, CFP®, PFS
  • from FL
  • Member since Apr 18, 2017
Ashish Acharya
#4 All Forums Contributor
  • CPA, CFP®, PFS
  • FL
3,661
Votes |
5,221
Posts
Ashish Acharya
#4 All Forums Contributor
  • CPA, CFP®, PFS
  • FL
Replied

REPS is based on hours. If you spend same amount of hours as 1099s vs W2, and if you didn't qualify as REPS as before because if W2 before, you will not qualify with 1099s.  

business profile image
INVESTOR FRIENDLY CPA®
5.0 stars
242 Reviews

Contact us

By clicking send, you affirm you have read and agree to the BiggerPockets Terms, acknowledge the BiggerPockets Privacy Policy, and you agree BiggerPockets and its network of professionals may use automated technology or pre‒recorded messages to deliver marketing calls, texts, or emails to the number or email your provide regarding your real estate needs. You also agree BiggerPockets and its affiliates may use automated technology or pre‒recorded messages to deliver marketing calls, texts, or emails to you regarding offers and other content that may interest you. Consent is not a condition of purchase. Message and data rates may apply. Message frequency varies. You can unsubscribe at any time by replying STOP or clicking the unsubscribe link (where available) in one of our messages.

business profile image
TaxMD™ | AI-Powered Tax Planning

Contact us

By clicking send, you affirm you have read and agree to the BiggerPockets Terms, acknowledge the BiggerPockets Privacy Policy, and you agree BiggerPockets and its network of professionals may use automated technology or pre‒recorded messages to deliver marketing calls, texts, or emails to the number or email your provide regarding your real estate needs. You also agree BiggerPockets and its affiliates may use automated technology or pre‒recorded messages to deliver marketing calls, texts, or emails to you regarding offers and other content that may interest you. Consent is not a condition of purchase. Message and data rates may apply. Message frequency varies. You can unsubscribe at any time by replying STOP or clicking the unsubscribe link (where available) in one of our messages.

3 Votes
Log In or Sign Up to Reply
Sort By:

Loading replies...