“Over the years, I’ve been talking about how You can get the cash flow of the real estate and has not shown legally on tax losses of tax returns,” Kennedy said. “It is a paper loss. Over the years, the IRS has made it difficult to take a loss. ” For example, property owners get less than $ 100,000 per year; the owner can take up to $ 25,000 against loss of income. If a salary in excess of $ 100,000 a year, no harm can be eliminated. This phase between $ 100,000 and $ 150,000 brackets.
Kennedy continued, “there is a trick called the professional status of real estate. You need to spend more hours in real estate activities than any other business. In addition, you are required to spend at least 750 hours annually perform tasks related to real estate-it is about 15 hours per week. ”