HAVING A STAY-AT-HOME WIFE CAN WIPE OUT YOUR ENTIRE TAX BILL —

HAVING A STAY-AT-HOME WIFE CAN WIPE OUT YOUR ENTIRE TAX BILL — The IRS has a designation called Real Estate Professional Status. Here's why it matters for your taxes... If your spouse works 750+ hours a year in real estate and it's their primary occupation — they qualify. Jill does this. She is the primary project manager of all our new properties. That qualification allows the paper losses from depreciation to offset your W-2 income taxes directly. But if you own a short term rental, the bar is even lower... This is called the STR Tax Loophole. And both spouses can still have full time W-2 jobs and still qualify. With STRs, you just need to work 100+ hours on your short term rental business — and more than anyone else involved. (Or 500 hours total, regardless of other people's involvement.) That's just 2 hours a week... Both of you can have full-time jobs and still qualify. Only one of you needs to hit the 100 hours. The IRS doesn't care how many hours your employer takes. Jill and I saved over $1M in taxes last year using this strategy. Not a loophole we invented. It's in the tax code. The tax code is working for someone. Make sure it's working for you. Comment "TAX" and I'll send you a full breakdown of the STR tax loophole and how you can qualify this year.