ilmscore | Prediction Details
"if you go out and you flip a property you make $100,000 you're going to be taxed at ordinary income tax rates it'd be the same taxes you pay if you made the $100,000 from a job but if you earn that money as a real estate investor because you're getting the rental income your tax a little bit differ you qualify for different tax deductions you also qualify for different tax write-offs this is one of the reasons why Real Estate Investors love investing in real estate is because of these tax deductions because as as a real estate investor when I go out and I buy a property I get a lot of deductions for example I get a deduction which says my property is one year older so I deserve a write off you don't get that when you go out and try to flip a property this is called depreciation deduction"
By Minority Mindset | July 8, 2024 | Pending
From video
Why I Am Not A Real Estate Flipper 00:03:32 - 00:04:13
Interpreted Prediction
Rental income from real estate investing is taxed differently and offers more deductions (like depreciation) compared to the ordinary income tax rates applied to profits from real estate flipping.

Prediction Details

Topic
Tax Implications of Real Estate Income

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.