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High-Earners Use Real Estate to Slash Tax Bills
High-earners are reportedly utilizing real estate investments and a lesser-known IRS rule to significantly reduce their tax obligations, as detailed by Kenji Asakura and Letizia Alto of Semi-Retired MD.
20 Feb, 10:15 — 21 Feb, 10:45
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First report: Yahoo · 20 Feb, 10:15|Full coverage: All 2 sources within 1d 1h|Window: 1d 1h
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Business Insider3h ago
How high-earners are using real estate and a little-known rule to slash their tax bills
Kenji Asakura and Letizia Alto are the co-creators of Semi-Retired MD. Courtesy of Letizia Alto and Kenji Asakura There's a little-known IRS designation called real estate professional status, or REPS. It allows qualifying investors to use real estate losses to offset W-2 income. If you or your spouse qualifies for REPS, it can reduce or even eliminate your tax liability. For years, Dr. Jill Green watched a large chunk of her physician's salary eaten up by taxes. "I was paying a ton in taxe...
Read full article →Yahoo1d ago
