Flying to Salt Lake City Tomorrow
Going to Salt Lake City tomorrow for the weekend. I have several investment properties out there and I’ve convinced some of my friends to buy there too. So we’re going to hang out and make it a good tax-deductible trip! Ever since I read Robert Kiyosaki’s Rich Dad
I have several real estate, oil and a VOIP business going on in addition to my regular job, so I have quite a few business and investment related deductions that were not open to me a few years ago as a regular employee.
As a real estate investor, you also get to depreciate your houses to a cap of $25,000 against your regular W-2 income. If you invest in oil, there is no cap. If you invest $50,000 on december 31st in an oil well, you can write off 80-90% of it against your income in that year itself. Its a great legitimate tax shelter!
I love passive investments!
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- Ben Stein Not Hot On Real Estate Here's an excerpt from Ben Stein's column about why he thinks real estate isn't such a great investment.That means the house has kept up with inflation -- barely.In fact, when I do the math, I realize that it hasn't fully kept up with inflation. Plus, the owner would have had......
- How I Made $2,667 In Passive Income In March '08 Finally I'm getting some traction with my passive income! After all, that's what this blog is all about. The total for March 2008 is $2, 667.18, and I'm ecstatic to have broken the $2,500 per month barrier. If I can sustain it at $2,500 per month, thats $30,000 per year.......
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Related Websites
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June 9th, 2006 at 2:58 am
Hi,
Interested in the VOIP business that you’ve got..what does it do?