ilmscore | Prediction Details
"if you invest in single family real estate what that means is you take the value of the building that's $200,000 and you divide that by 27 A5 so you take $200,000 divide by 272 and that gives us around $7,200 and what that means is for for the next 27 1/2 years you get a $7,200 tax write off a deduction paper deduction and by paper deduction I mean this is a tax write off on paper it's not actual money that you have to pay just because your property is one year older so you have $15,000 in the bank account then you tell the IRS hey I have a property that's one year older so I deserve a $7,200 a year tax write off which means your taxable income is about $7,800"
By Minority Mindset | October 7, 2024 | Pending
From video
5 Secrets Rich People Use To (Legally) Protect Their Assets - And How You Can Too 00:15:09 - 00:16:04
Interpreted Prediction
Owners of single-family rental properties can claim a $7,200 annual tax write-off for depreciation on a $200,000 building over 27.5 years, reducing taxable income.

Prediction Details

Topic
Real Estate Tax Benefits

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.