In this episode of the HIG Podcast, Bronson Kaufusi and MattyP team up with Jesse Yeats to answer a listener's question. The question: “How can I best become a qualified real estate professional?”
For starters, Real Estate Professional status, AKA REP status, is a designation defined by the IRS that allows qualifying individuals to offset active income with real estate losses. Spoiler alert, it’s a major tax advantage.
In this episode, we break down REP status and explore the world of leveraging this powerful government incentive. Jesse breaks down key criteria for qualification, like spending 750 hours annually in real estate activities and dedicating over 50% of your work time to the field. The discussion highlights why the government created initiatives like this, and how they can significantly reduce tax liabilities through active loss deductions, depreciation advantages, and effective wealth acceleration.
Are you ready to grow your real estate portfolio while cutting down your tax liability? Don’t miss this next-level discussion that could save you thousands while simultaneously accelerating your wealth!
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