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From Salary to Savings: The Depreciation Game for W-2 Workers
Manage episode 367131986 series 3377853
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In this episode, the host Jack Krupey shares his personal story of getting into real estate right after college during the dot-com crisis and benefiting from depreciation without fully understanding its details. He discusses his experience as a real estate professional and how depreciation helped offset his income and even resulted in a loss to carry forward for eight years. The episode focuses on how depreciation continues to benefit individuals with W-2 income or active business owners whose primary source of income is considered their business. The host explains various scenarios where depreciation can offset different types of income, such as investing in syndications or owning rental properties. Jack also highlights the risks and potential recapture involved in taking depreciation deductions. The episode concludes by emphasizing the importance of tax planning and tracking investments to manage tax burdens and take advantage of depreciation benefits effectively. Additionally, the host shares personal insights on how his career transition from an employee to a business owner affected his tax situation and increased his understanding of the tax code's advantages for high-net-worth individuals.
HIGHLIGHTS FROM THE EPISODE
Jack's journey into real estate 00:00
Tax deferred income 2:53
Risks and benefits of depreciation 5:37
Passive income 8:32
Bonus depreciation 13:42
Ways to contact Jack 15:21
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