W2 EMPLOYEES: How to Pay Less Taxes (I saved $80k in 2022)
Are you a high-paid W2 employee, working 9 to 5, uninspired, and looking for financial freedom?
The traditional method of saving and maxing out your retirement accounts WORK - but not NEARLY FAST enough - so hear me out:
On this channel, we only focus on THE MOST IMPACTFUL concepts that significantly move the needle toward financial freedom WHILE YOU’RE STILL YOUNG AND ABLE TO ENJOY IT:
—— Description of the video —————————————
This is how I was able to save 80k in taxes in 2022.
0:00 Introduction
1:08 What is a deduction?
2:49 High-Level Overview
5:26 What is cost segregation?
9:13 How to use losses against W2 income?
13:23 The catch: Depreciation Recapture
13:40 Schedule a 1-1 call! Link in bio
In summary:
1. Buy rentals
2. Claim Real Estate Professional Status
3. Materially Participate
4. Cost Segregate to generate large passive losses
5. Apply passive losses against W2 income.
—— ☎️ SCHEDULE A 1-1 STRATEGY CALL ☎️ ————
https://calendly.com/investlikemike
—— 📚 FREE RESOURCES 📚 —————————————
1. Real Estate Investing Youtube Playlist (START HERE): • Real Estate Investing Essential Playlist
2. Real Estate Investing Books (I’ve actually read them all): https://www.amazon.com/shop/michaelca...
—— FOLLOW FOR MORE ————————————————
TikTok - / investlikemike_
Instagram - / investlikemike_
—— DISCLAIMERS & DISCLOSURES ——————————
This content is for educational and entertainment purposes only. Michael does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Thank you for your support!
