All Forum Posts by: Christina N.

@Bob Lett I know your post is old. However, I am in this situation with my W2 and that I make over the 150k threshold to use my 2 rentals to help offset my taxes. Im super frustrated as I have not found how I can offset my income to capitalize on my investments. Im really looking for a good financial planner or CPA that can help me tax strategize. My accountant stated you just make too much money and there is nothing I can do about it even though Im taking losses on my rentals after rehab costs. I want to expand my porfolio but I don't want to take all the risk to just hand over all my earnings to Uncle Sam. If you found some solutions since your last post or met a great resource to help with this, please share. Thanks again!!

@Bob Lett

After completing my taxes this year for my 2 rentals (just purchased last year), I have capitals gains that are affecting my taxes with my husband and our W2 jobs. We have a long term amd short term rental in a LLC in Idaho while living in Ca. We make over 300k together without the properties. We talked to a tax specialist that stated the best way to structure our properties on these capital gains is to put our properties in non-grantor trust and create a foundation. By putting the captial gains in a foundation and donating 5% to a charity, we would eliminate the pass through income gains. My husband and I are trying to find the best way to structure our properties as well as research this strategy so we can continue to puchase more properties in the future. I am having a difficult time finding more information about this since it is pretty complicated. Has anyone heard of this or know of anyone we could talk to for a second opinion?