I PAID $3000 TO A LAWYER WHO EXPLAINED THIS WHOLE THING BUT YOU DID IT BETTER HERE IN THIS VIDEO!! THANK YOU!!

Wow, I had to watch this twice, great intel! no one gives specific tax strategies for free, most youtube chanels are all fluf and no or very little info. Respect!

Also after you get to the point where you have real estate properties that are creating depreciation write offs for you, you will also be able to refinance these properties after 2-5 yrs and pull money out of the asset (real estate properties) tax free 😉. Remember that properties typically go up in value as well as get paid down (principal value) each month. This is where you can decide to re finance the property and pull out cash if you want to spend it and have some fun or use that money for other investments.

@whatsapchat-5890

Жыл бұрын

👆👆

A couple caveats to his rental depreciation - if you are not a real estate professional, long-term rentals do not offset w-2 wages. Short term rentals do. He skips a few of the details here and there that can have major implications if you do not work with a tax strategist and think you can do this on your own (sales pitches and broad strategy sessions rarely delve into the details)

Thanks Karlton for all of the generosity of info that you and your mom give on KZread!

Man, you are the GOAT. The best channel of tax strategy is this one

Can’t believe this is free thank you so much

Karlton, this was great! Thanks for the precise breakdown of how to think about setting up a business or businesses! You really seem to enjoy what you do and it translates into you being excited about teaching it! 💙💫👍🏾

This is definitely one of the most perfect tax strategies that I’ve ever seen. Refreshing to so how well it’s explained. Looking forward to working together

This was one of the best videos translating accounting to the business owner. Many Accountants that provide tax planning services speak above the business owner and their heads spin during these strategic meetings. Kudos to you, Karlton!

This was amazing even for those of us with smaller businesses and portfolios

Fire 🔥 information Thank you Karlton

This video really got the gears spinning in my head. Such a new perspective to consider! This is awesome. Thanks for the great info here! New subscriber here 🙂

This is so Good! So tired of buying to offset my taxes. I need a consult!

Im loving the way he breakin this down

Another great vlog 💪🏾🔥🔥🔥

This is insane, thank you for everything you do

Dude THis is the best video on KZread ..... You are gold.... I did not want this video to end

This has got to be the most informative video I think I have ever seen on KZread . Incredible!!!! 🔥🔥🔥

@officialkolade

Жыл бұрын

broo 😮

My guy Karlton sharing his wisdom!

@karltondennis

Жыл бұрын

My man! Appreciate you brother

Fire 🔥!! This stuff is fascinating af!

This is gold! Thanks

I doing well, but was getting ready to run into this issue in a year or 2, this helps so much, thank you EDIT. Cant believe this is free, this is crazy. I set a crazy goal for myself and this will allow me to do it. So thankful

Fantastic video good job 👍🏽!! Very helpful to the industry of today

You are an Angle for sharing this information.

why does this not have more views, this is brilliant!!!

Great information! Thank you!

@whatsapchat-5890

Жыл бұрын

👆👆

Thank you for coming to my office and helping me put a fire game plan together !!!

Forming a management group solves the conundrum that many of us have with multiple businesses. Thanks so much for filling in the gap that Robert Kiyosaki left for us to figure out✨️

@IronMind23

Жыл бұрын

Does Management group means holding company ?

@quentthomas5782

Жыл бұрын

@@IronMind23 essentially

@jenninemorel7693

Жыл бұрын

Exactly

This is very informative info! Thank you, your spot on. Thank you!

This was actually a well explained video..wow. no fluff

This is a shell game that doesn't actually alleviate ANY tax burden. Yes the mngmt company adds places for writeoffs but it also adds costs that eat up the savings of addt writeoffs.

Facts! Learned this at a investment mastermind

Brother Karl Karlton you're a godsend!

Woooooooow🔥🔥🔥I have so much to learn about real estate! Thank you for sharing your knowledge 🙏🏽 😊

How does ordinary income get offset with passive loss. I thought they couldn't offset each other?

Amazing Video....THANKS!

#KarltonDennis SIR why wouldn't his COPE LLC roll up into a Family Trust? He's the Grantor, he has Grantees / beneficiaries, you could be his Trustee . That way the Trust pays the 'IRS Taxes at a much lower rate, and he owns nothing?" Making him effectively "suit proof."

@economicdevelopmentplannin8715

Жыл бұрын

LLC for active income flows into the s Corp management company Then s Corp and passive income LLC flow to the revocable trust This flows down to the 1040. Maybe he discussed this one off camera 📸....

🔥🔥🔥🔥🔥 Another one!!!

Sir, how were you able to quickly divide 1,000,000 by 27.5??? You are a genius!😅

Amazing Dude!!!

I love all your content.

Thank you.

This is Great!!

Nicely done

Thanks.

Bro. For the right person this is life changing. 🤯 it is to me.

I would definitely buy an online course from this guy

Thanks so much ❤️🔥💎🙌🏽🙏🏽

This strategy holds more value for high-income business owners. I'd like to see a strategy more aligned to high-income W2 employees/families that are just getting started using real estate as a wealth-building and tax saving method. Is that explained in another of his videos?

@JB-ko4rp

Жыл бұрын

I would also like to know this. In the video he mentions "easier as a W2 employee" when talking about need for it to be long term rental or Airbnb. A previous video made it sound like this only worked (bonus/accelerated depreciation) if you were a Real Estate professional. Would really love to know how this can be made to work for people with primarily W2 income. Would buying the property under a real estate LLC be enough and since the gains/loses pass through to your personal income it still works out? What about offsetting capital gains from stocks or crypto?

@taxleverage

Жыл бұрын

@@JB-ko4rp If you’re a w-2 and don’t qualify as a real estate professional there’s a 25k limit on real estate losses that you then phase out of if you make too much. If you’re subject to the limit then the cost seg wouldn’t usually be a good idea

Great video but I need to mention as an Enrolled Agent the error about single member LLC. If you as a person are the only member of your LLC the IRS calls it a disregarded entity. Which means you will file form schedule C with your 1040 tax return. You will not receive a K-1.

@zakzak3510

Жыл бұрын

@JG You are correct. This guy and his mother Karla Dennis are GIVING BAD ADVICE and HALF TRUTHS. He doesn't say after 3 - 5 yr cost seg is used up then ALL rental income becomes taxable. This is a VERY SHORT term "game". He needs to get himself a LOT more education before getting on a public forum like this.

Good video Karlton. Question - Which company would you recommend for opening up a Cash Balance Plan?

I appreciate you man.

@whatsapchat-5890

Жыл бұрын

👆👆👆

Wow this is a great video

Also the other problem is: all this is wealth generation; but the issue I take is, even as was expressed in the video - how does one get to enjoy the money they worked so hard to make? Ie you made the $600k, spent $300k on that 20% down property to buy it as an investment, you’re told if you don’t wan to get taxed on the other $300k you gotta invest that too, so then when does anything come to you to go and spend and have fun?

This is tough !

Bro You Are A Young Goat.!! You Continue to Educate Me and Improve My (" Mind Set ").. Impressive 👋🏽👋🏽👋🏽🔥🔥🔥🔥✍🏽✍🏽✍🏽🔥🔥🔥

@whatsapchat-5890

Жыл бұрын

👆👆

I love the Grant Cardone name drop!! Love your content!! You,ve inspired and educated in ways I never dreamt possible!

You're absolutely AMAZING!! Do you help people in Texas?

Karlton is a lefty like me 😀. I appreciate this valuable info to help us during tax season.

@whatsapchat-5890

Жыл бұрын

👆👆👆

@santanaacker1377

Жыл бұрын

Me,THREE!!!!!

DAMN! my man is teaching right here thanks for the insight on all of this. very eye opening how long will cost segregation be around or is it the bonus depreciation that will go away eventually? hopefully it doesn't go away just lower the amount.

this is supper good food. thanks bro

If you buy land instead can you use the same strategy, paying someone to cut the grass, and maintain the land? 🤔

Good info but i feel like a vid about making a management company in detail is something you haven't made yet karlton

Liked and subscribed!

I swear to God nobody is teaching in America like this the way you're doing this is most amazing strategist and also on KZread because you will search the entire KZread from top to bottom you will not find detailed explained tax strategy stuff like this ❗❗❗

@whatsapchat-5890

Жыл бұрын

👆👆

First off, your awesome!!! Your changing my life financially in the best way. So thank you! I have 2 questions- I’m in texas, does the LLC to s-corp advice still apply since tx doesn’t have state tax? Question 2- do you have any recommendations for a tax person for me to hire in Houston? Of course I would want this person to be as knowledgeable as you or close to it. TIA!!! I’m a fan!

I want to know when are you coming to New York to do an event like this

I am glad I watch this game changer

Brilliant.

minute 13:00 is where it is at: "Expense your investments".

THIS IS FIRE

My question after watching this is how do you maintain your day-to-day if you are not moving money from your operational LLC to the parent company to the end of your fiscal/tax year?? As a W2 employee??

I thought cost seg only offsets passive income? I was told my rental properties depreciation cannot be realized on my active business income.

Darn a light bulb went off. Wow!!!

Thank you

@GregoryTyler-ii6et

Жыл бұрын

Feel free to reach out to me using the info above to know all about my investment tips and strategies that generate passive income for decades✍️

@GregoryTyler-ii6et

Жыл бұрын

Feel free to reach out to me using the info above to know all about my tips and strategies that generate passive income for decades✍️

@whatsapchat-5890

Жыл бұрын

👆👆

When using regular depreciation along with bonus depreciation does it create a dollar for dollar deduction? Also, If I were to write off $600K in the first year using a cost segregation study and bonus depreciation, what if I do not buy another property the next year? Last question, when doing a 1031 exchange is the current value of the property used to calculate the price of the next property I need to purchase to avoid taxes or is the original purchase price used? Thanks for all your video's, I've learned so much from you.

how do you propose he's going to qualify for REP with his other side businesses? That 750 hours when you are not in the real estate is very difficult. It is a high audit probability too. I'm glad you inserted the warning notice in the video.

can you just create a LLC to purchase real estate to offset personal capital gains?

Correct me if I am wrong, but I believe in a 1031 exchange you will carry over the adjusted basis in the property given up. Meaning you will not then be able to reup a cost segregate on the 1.9 million dollar new property received.

Very well presented Karlton. One question: With an operational LLC that holds rentals or other cash flowing hard assets, and depreciation is being taken, when you exit a few years down the road (assuming no 1031), how do you deal with recapture on the depreciation that entity has taken?

@frankh.5378

Жыл бұрын

my guess is you are stuck. it is like hotel California. either you lose by filing all those depreciation as capital gains during the selling or you keep it forever!

Please explain why this has to be an Airbnb and not a long term rental

@taxleverage

Жыл бұрын

You have to be very careful with real estate losses. If you can find a way to qualify as managing an active business/material participation, you may be able to offset income from other active sources (e.g. w-2). Airbnb is more likely to get you this result, but not guaranteed, especially if you hire someone to manage (then it will be limited to passive losses). There are a lot of details missing and more requirements to make sure real estate losses can actually offset other income with depreciation rather than just give you suspended losses to carryover

Why are the AirBnB’s preferable?

This is the strategy !!!

@whatsapchat-5890

Жыл бұрын

👆👆

Looked like a good video overall, but the audio was bad

Karlton, instead of purchasing a property could I purchase a business to get the same or a similar tax deduction?

How do you account for the income generated by the rental property? That can offset the deduction unless you are renting at a loss.

You had me at "what's a million divided by twenty seven and a half? "

this taught me more than college, and i'm still in college lol

Truly the gem I been looking for thank you. One question is it worth putting the mgmt company in a trust to pass the structure along to my dependent? Or make my dependent 1% partner.

How do you qualify for cost segregation study? We have commercial buildings, do we qualify? And how do you start? Do you need to hire somebody special?

@taxleverage

Жыл бұрын

There are specialists to hire if you google them - make sure whoever you hire, if it's not a new purchase building, then you also need to file an accounting method change form (Form 3115) with your return or the cost seg can be reversed by the IRS. So try to find a specialist who also preps this form since many CPAs will mess it up and not file it properly.

Anyone else feel like he fell off on explaining the benefits of the parent cope llc company? Llc is still pass through, so the management fees that are income for the parent will still be taxed, so what are taxable benefits of the parent company other than management expenses (which were expenses that were independently documented in each llc prior to creating the parent)?

@KarltonDennis i heard bonus depreciation is going away.

Could the management company be a Living Trust? Or would there be an additional layer to add the Trust first then create the Management LLC underneath?

Damn

The only thing i don’t understand is wouldn’t the Management company have to declare the money that was transferred from the other LLC’s as income and it be a wash? Where does the deduction come from?

@taxleverage

Жыл бұрын

Yes, it would be a wash - almost all deductions create corresponding taxable income, and definitely income to a management company would be taxable

Genius!

What is typical on that bonus depreciation ? in this example I think u used 40% of 1.5mil

Should the Manegment company be a single file LLC or can it be a multi member? Should the LLC own or manage the LLC’s. If own, what about the board member shareholders of those LLC’s to be managed?

What is the professional position title that can help with this type of thing? Is this something I should contact an accountant or a tax attorney about?