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Old 02-10-2019, 06:27 PM   #21
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Curious what the 1% are doing to avoid taxes. You make it sound easy. Maybe the 1% club didn't send me this month's newsletter. What tactics are they using exactly?


If Iím not mistaken, if you own multiple millions of dollars of real estate, you can depreciate it every year and deduct that from your income, even if the real estate is actually appreciating and if the real estate is highly leveraged, I.e. the bank really owns it. When you die, the kids get it at a stepped up value.

You can also use a dummy company to provide all the real estate maintenance at hugely inflated prices to generate losses, except you secretly own the dummy company. Or so Iíve heard.
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Old 02-10-2019, 06:35 PM   #22
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If I’m not mistaken, if you own multiple millions of dollars of real estate, you can depreciate it every year and deduct that from your income, even if the real estate is actually appreciating and if the real estate is highly leveraged, I.e. the bank really owns it. When you die, the kids get it at a stepped up value.

You can also use a dummy company to provide all the real estate maintenance at hugely inflated prices to generate losses, except you secretly own the dummy company. Or so I’ve heard.
I own commercial RE. There is so much wrong with this.
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Old 02-10-2019, 06:51 PM   #23
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Sooooo... Before Porky arrives, can we go back to the original topic, and OP's question?

To OP: as you have probably figured out, there is a wide variety of opinions on this forum, which is a good thing. We also can have threads high-jacked diverted by different topics. Don't get discouraged. There is a lot of collective wisdom here.

I can tell you that lurking here was the eye opener that I needed to FIRE. So, good luck, and keep reading and posting here.

And in case you don't know about Porky. He shows up when things go off the rails and says "Thaaaat's aaaalll Folks!", ending the thread.
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Old 02-10-2019, 08:16 PM   #24
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I own commercial RE. There is so much wrong with this.
Yup. +1
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Old 02-11-2019, 10:52 PM   #25
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OP here....Thanks for all the feedback guys...I guess time to start adding to my taxable investment accounts...I guess it makes sense to build up my taxable investment accounts as kinda a bridge until I can withdraw from my tax deferred retirement accounts..
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Old 02-13-2019, 04:25 PM   #26
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This is what I was going to suggest. Your time frame is up to 12 years of growth tax free.


I would like to 3rd this. People that do not know about this trick do not realize how amazing it is. In addition to the $19k 401k Roth or traditional contribution, you can put thousands of additional dollars into an after tax non-deductible 401k then move that to a Roth IRA, while still employed at that company! (This does not impact your ability to contribute to an ira). You can literally go broke saving money! The amount you can contribute depends on a lot of factors, all specific to your income and company, you need to carefully read the plan and talk to your 401k provider...and sadly some companies donít allow this
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