Episode 394 - The Tax Strategy STRs Investors Use To Save THOUSANDS Explained

CONTACT MIKE & KEVIN:https://www.revotaxpayer.com/WEBINAR LINK:https://shawnmoore.clickfunnels.com/optiniyvvg89sWant to learn more about Vodyssey or start your STR journey. Book a call here:https://meetings.hubspot.com/vodysseystrategysession/booknow?utm_source=vodysseycom&uuid=80fb7859-b8f4-40d1-a31d-15a5caa687b7FOLLOW US:https://www.instagram.com/vodysseyshawnmoorehttps://www.facebook.com/vodysseyshawnmoore/https://www.linkedin.com/company/str-financial-freedomhttps://www.tiktok.com/@vodysseyshawnmooreCONTACT US:[email protected]:00:00 Intro00:00:23 Meet the guests and discuss the importance of strategy00:00:58 Timing and planning for end-of-year asset purchases00:01:27 Debunking myths about bonus depreciation qualification00:02:24 Active participation and managing short-term rentals00:03:19 Material participation and management roles00:04:50 Active involvement without managing day-to-day operations00:06:14 Qualifying as an active participant in a trader business00:12:56 Understanding the $512,000 limit and tax law changes00:14:20 Limits for high W-2 earners and carryforward strategies00:16:19 Using bonus depreciation and cost segregation effectively00:20:57 Purchase price allocation and its importance in real estate deals00:24:02 Passive vs. active rental properties and tax implications00:27:21 Market environment and negotiating strategies00:28:15 The importance of proactive planning and expert guidance00:29:43 Final thoughts on tax strategies and wealth building