Link: https://www.skool.com/taxes/classroom/ec6893ee?md=8a49ed2a22c64cd5811775404ffa0e68 Here's a summary of the key takeaways from this session: Hold vs. Sell - Flips are taxed at ordinary income rates (up to 37%) and forfeit long-term appreciation — holding is almost always the better long-term play - The BRRRR method lets you pull capital out while keeping the asset - Sometimes selling a primary residence before converting it to a rental is smarter — the $250K/$500K Section 121 exclusion disappears once rental use kicks in - 1031 exchanges are a tool to defer gains and upgrade into a better-performing property STR Depreciation Strategy - A cost segregation study in year one can fully expense 5-year property (furniture, fixtures, flooring, lighting, appliances) and 15-year property (land improvements) via bonus depreciation - The remaining structure (39-year commercial / 27.5-year residential) continues depreciating annually — you'll still have $10K–$20K+ in depreciation each year going forward - If you sell early, depreciation recapture tax applies at ~25% - The 100-hour material participation test for the STR loophole applies per property — adding a second STR means tracking 100+ hours for that property separately W-2 Withholding - Divide federal tax withheld YTD by total gross wages YTD to find your effective withholding rate - Compare that to last year's return: line 24 (total tax) ÷ taxable income = your average tax rate - If those percentages are misaligned, submit a corrected W-4 to HR - Large commission or bonus checks must be coded by payroll as bonuses — if coded as regular wages, the system annualizes the amount and massively over-withholds - You can add a flat extra dollar amount per paycheck on the W-4 to fine-tune withholding W-2 Employees & Vehicle/Mileage - W-2 employees cannot deduct unreimbursed mileage under current law — the employer must reimburse through an accountable plan - The 2026 IRS standard mileage rate is 72.5¢/mile — 30,000 miles = ~$21,750 the employer should be reimbursing - If the employer won't set up a proper accountable plan, explore reclassification to 1099/independent contractor — especially if the worker sets their own schedule and is paid per job - In the meantime, see if the vehicle can be legitimately tied to another business entity you own

Link: https://www.skool.com/taxes/classroom/ec6893ee?md=2a58cbc995d945a9843012e6daea7a3c Here's a summary of the key takeaways from this session: Home office deduction - Max deduction is 300 sq ft regardless of actual room size - Use the simplified method: home office sq ft ÷ total home sq ft - Furniture and equipment (e.g. a standing desk) are deductible under supplies/furnishings on your Schedule E or C - W-2 employees can't do this — owning a rental or business is what unlocks it - Over-claiming (e.g. running a full business from your home) triggers depreciation recapture when you sell Bonus depreciation & recapture - If you did a cost seg and took 100% bonus depreciation, those short-life assets (5, 7, 15-yr) are already fully written off - When you sell, you owe recapture no matter how long you've held — the clock doesn't reset it - Bonus depreciation recapture is taxed at ordinary income rates (up to 37%) - Standard 39-yr depreciation recapture is capped at 25% - The larger your bonus-depreciated asset base, the bigger the recapture bill at sale 1031 exchange vs. lazy 1031 - A proper 1031 defers all recapture and capital gains — the better option if you can execute it - You have 45 days from closing to identify up to 3 replacement properties, and 180 days to close on one - Start identifying replacement properties early if you're planning to sell - A single-member LLC can receive the replacement property — no issue for 1031 eligibility - Adding a spouse to the LLC makes it a multi-member entity and could disqualify you - The lazy 1031 (buy new property + cost seg to offset gains) works as a backup but wastes depreciation on the old sale rather than against W-2 or other income S-Corp: salary vs. distributions - The entire point of an S-Corp is to reduce self-employment tax (15.3%) - As an LLC, you pay SE tax on 100% of profits; as an S-Corp, only your salary is subject to it - The savings grow significantly as your profit grows — the higher the income, the more the S-Corp structure pays off - Salary must be "reasonable comp" — what you'd pay someone to do your job (RC Reports or Gusto's calculator can help) - The general threshold to consider an S-Corp election: net profit consistently over $75K - Payroll can be started any time during the year and still be compliant - Quarterly tax payments can be handled through W-2 withholding instead of manual IRS estimates

Link: https://www.skool.com/taxes/classroom/ec6893ee?md=48791c9846fb450a8930a161b8f01d24 Here's a summary of the key takeaways from this session: Rental Property Strategy - Three pillars of a good rental: appreciation, tax deductions/depreciation, and cash flow. - Cash flow over $200/month is considered a success. - Tighten tenant management: move to automated payments (ACH/Zelle), enforce due dates and late fees, and revisit lease terms periodically. - Long-term rentals can offset high AGI (>$150k) if paired with business expenses/write-offs that bring taxable income down. Short-Term Rental Partnerships (Material Participation) - Material participation (100-hour rule or 500-hour portfolio rule) must be tracked individually by each partner — not transferable. - Partnership tax treatment flows through K-1s based on whatever ownership/profit split is defined in the operating agreement. - Recommended resources for STR partnership agreements: STR Law Guys (legal) and Brister Tax Law (tax). Brokerage Accounts - Underrated tool: more liquid than retirement accounts, no early-withdrawal penalties. - Capital gains tax (e.g., 15%) can be effectively offset by lowering overall taxable income via business expenses (Schedule C losses, etc.). - Useful for big purchases (cars, down payments, education) without disrupting retirement savings. Salary Negotiation - Anchor high (e.g., asking for 36% raise) — expect to land somewhere in the middle through negotiation. - Don't worry that a big raise this year limits future raises — focus on continuing to demonstrate value. - Build in performance-based/incentive metrics as a fallback and as a foundation for future increases. Tax Planning Ahead of Income Changes - A raise that pushes income over Roth IRA limits may require opening a Traditional IRA and recharacterizing contributions — plan ahead with your broker (e.g., Vanguard).

Link: https://www.skool.com/taxes/classroom/ec6893ee?md=3cf66e6fb0944a4fb3e1ce86a30c5dfd Here's a summary of the key takeaways from this session: Real estate & retirement planning - Paid-off rental properties offer powerful retirement income — via HELOCs, reverse mortgages, or cash flow. Loan proceeds are not taxable income. - The "buy, borrow, die" strategy lets you tap equity tax-free while alive and pass property to heirs with a step-up in basis, eliminating capital gains. - Real estate syndications can compound toward retirement — reinvesting proceeds from each deal cycle accelerates the nest egg beyond stock-only projections. - Holding rentals until death is the most powerful way to avoid capital gains taxes entirely. Retirement accounts & investment allocation - Watch for target date funds — their expense ratios (~0.5%) and early bond allocation can quietly cost thousands per year and drag on growth. - Younger investors should be 100% equities (U.S. index funds + ~20–30% international). Bonds become relevant only as retirement nears. - Order of withdrawals in retirement: cash first → taxable brokerage → traditional 401k/IRA → Roth accounts last (let Roth grow tax-exempt as long as possible). - Roth vs. traditional: high earners (37% bracket) benefit most from pre-tax traditional contributions; lower earners should lean toward Roth for tax-free future growth. - Backdoor Roth IRA ($7,500–$8,500/year) is a smart move for high earners who can't deduct traditional IRA contributions. Solar panels on rental property - The residential clean energy credit (Section 25D) ended Dec 31, 2025 — but rental properties qualify for the Business Energy Credit (IRC §48/48E), still at 30%. - State rebates reduce your eligible cost basis. Example: $36K solar cost minus $18K Illinois rebate = $18K eligible basis → ~$5,400 federal credit (30%). - 100% bonus depreciation can also be applied to the solar asset cost, stacking additional savings on top of the federal credit. - If the property is passive, bonus depreciation can only offset passive income down to zero — it cannot create a loss that flows to other income. - Grouping elections across properties can help hit the 500-hour material participation threshold and unlock full deduction benefits.