See, there’s an interesting tax deduction where if you qualify as a real estate professional, your ability to write off losses against your taxes is almost unlimited.
So if you buy enough real estate and assess depreciation against them, in Uncle Sam’s eyes, you are losing money, but it’s only depreciation.
If you have a way other than buying an asset losing 10% of its value each year, to save on taxes, I am all ears.
You don’t have to buy in California. Buy in other places that are doing well. Texas, North Carolina, Idaho. Also, do NOT buy residential. Buy 4 plexes or more.
My wife and I make about $200k and our total federal taxes total $6k. There isn’t a whole lot you can do about social security, but federal and state tax can be lowered by quite a bit.
