LMS MDA Consulting

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My CPA told me I owe 73k in taxes for 2024!!! 🤦🏻🤦🏻

I told him I ain’t paying it! He ask me what you mean you ain’t paying it?

I said we are going to do a cost seg on one of my short term vacation properties I bought in 2024.

We bought it for 575 and we are all in roughly 625k. It did 127k for the year in short term rentals. Our all in debt service with taxes, fees, utilities, and maintenance was around 75k.

That means we netted right at 51k positive cash flow on one ☝️ door 🚪.

In addition to that we are going to cost seg this property and another to try a wipe out our entire tax bill if possible. Roughly speaking for every 100k of dollars borrowed that gives us about 30k in taxes savings after the study 📚 is complete.

That means I can roughly offset 170k of taxes which completely wipes out my 73k tax bill.

Moral of the story is don’t relay on CPA to help you with off setting your taxes as an Entrepreneur and Real Estate Investor. They are tax compliance officers for the IRS not tax strategist!

It’s your job to educate yourself on how to not pay taxes legally, morally, and ethically! Not your CPA!

Learn the game of 1031 exchanges and cost segregation and play it right and you will never have to pay taxes again legally! Thats the beauty of being a professional real estate investor!

If you want to learn the game you need to come out to the next Allies Mastermind December 3rd and 4th in Destin, Florida. Inbox me Allies if yiu ready to Skill Up your game!

Your Best Ally…. Keep Skilling Up!