Carter Cofield

So we went and bought a million-dollar property for our company, and we got 30% $310,000 tax deduction for a studio that we already had to use. And we were able to put like 10% down. So we exchanged $100,000 for a $310,000 tax deduction. And then now we're going to obviously next year rent out the studio to other content creators and things like that.

So we went and bought a million-dollar property for our company, and we got 30% $310,000 tax deduction for a studio that we already had to use. And we were able to put like 10% down. So we exchanged $100,000 for a $310,000 tax deduction. And then now we're going to obviously next year rent out the studio to other content creators and things like that.

So we went and bought a million-dollar property for our company, and we got 30% $310,000 tax deduction for a studio that we already had to use. And we were able to put like 10% down. So we exchanged $100,000 for a $310,000 tax deduction. And then now we're going to obviously next year rent out the studio to other content creators and things like that.

Are you serious?

Are you serious?

Are you serious?

I'll approve it though. I'll approve it, yeah, yeah, yeah.

I'll approve it though. I'll approve it, yeah, yeah, yeah.

I'll approve it though. I'll approve it, yeah, yeah, yeah.

Yeah, I was like, dude, you're fucked up, brother.

Yeah, I was like, dude, you're fucked up, brother.

Yeah, I was like, dude, you're fucked up, brother.

Absolutely right. And I think the biggest part about having the wife be the real estate professional status is that. If that wasn't the case and you were to buy a long-term rental, they would cap your write-offs at 25. Yes, exactly. But now there's no cap on your write-offs and you can buy two, three properties. Let's say you bought a $3 million property.

Absolutely right. And I think the biggest part about having the wife be the real estate professional status is that. If that wasn't the case and you were to buy a long-term rental, they would cap your write-offs at 25. Yes, exactly. But now there's no cap on your write-offs and you can buy two, three properties. Let's say you bought a $3 million property.

Absolutely right. And I think the biggest part about having the wife be the real estate professional status is that. If that wasn't the case and you were to buy a long-term rental, they would cap your write-offs at 25. Yes, exactly. But now there's no cap on your write-offs and you can buy two, three properties. Let's say you bought a $3 million property.

It's a $900,000 tax deduction and you're building your real estate portfolio at the same time.

It's a $900,000 tax deduction and you're building your real estate portfolio at the same time.

It's a $900,000 tax deduction and you're building your real estate portfolio at the same time.

thousand and then we can actually write that off as an expense too so that's a big one because a lot of people don't know that yeah i don't know who's teaching this me or you man but yeah so the augusta rule just to clarify so people know how to do it at home you can legally rent out a property that you own to yourself for business and the other key problem i wanted to just harp on is that that

thousand and then we can actually write that off as an expense too so that's a big one because a lot of people don't know that yeah i don't know who's teaching this me or you man but yeah so the augusta rule just to clarify so people know how to do it at home you can legally rent out a property that you own to yourself for business and the other key problem i wanted to just harp on is that that