When it comes to rental real estate you kind of have one last year in strategy and that's the cost segregation,

but you're creating a loss on the returns to be able to utilize the loss.

And if you don't qualify as a real estate professional, which means you can't show the IRS you're spending 750 hours in the year

managing your investment property, then your only option might be short-term rentals.

So if you're a high net W-2 taxpayer, or maybe you have an LLC or an S corporation that's really profitable,

you can buy a short-term rental property with the time you have left in the year, manage that property

for a hundred hours and more than any other person such as your cleaning lady.

And then just make sure that you're renting it out on average seven days or less per customer

and you would be able to use real estate losses to offset your W-2 and your 1099 income.

And this gets positioned a taxpayer to really save some money.

Welcome to the Rich Drummers Report where we talk real estate, business, and wealth building all

while keeping it real. No fluff, no BS. I hope that you enjoy the show.

All right guys, welcome to another episode of the report Saturday Edition and I got my co-host today

Mr. Carlton Dennis Carlton welcome to the show man thank you so much for having me

on man it's a pleasure to be on yeah I appreciate you taking the drive down

from Orange County I didn't realize you were at Newport Beach

dude this whole time we've been connecting on social. I thought you were at a state for what a reason.

I'm in your backyard man. We should have linked up way sooner. I know and I'm from St. Clementi so I'm up there all the time but we'll definitely have to to connect we know a lot of the same people.

Yeah we have to well you got to come down to have some sushi. Yeah, it's one of my favorite things dude It's one of my favorite things, dude. Yeah. Yeah, one of my favorite things. But anyway, so with us wanting down to the end of the calendar year, you know, a lot of people have tax bills and that sort of thing and people are asking, how can I save on income taxes, how can I take advantage of some of the real estate

tax benefits that are out there.

And as we're nearing the end of the year, it's not too late to jump in and buy a property,

get a cost sex study.

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