Taxes

I upped all my pre-tax contributions this year, but it won't even make a dent. We're too far into our current bracket (actually getting close to the next one).

I need to figure out my home/land situation, but I was hoping to get into some rentals eventually to help us out a bit on the tax end.

Germ, good for you buddy. I can only imagine that was a good year for you based on that number!

 

Owning commercial rental property is the way to go in my opinion. Triple net lease it out for long term if possible and you have very little to worry about. Residential rentals can be a huge pain and the rents are generally much lower.

 

Everything I've read said you can count yourself and any children or dependent living in the house? And then it asks for their names and socials and everything.

 

You're not actually changing dependents but you're changing your withholdings.

 

Oh so on the thing we fill out at work? That makes more sense. I thought it meant when you are filing your taxes.

 

Exactly.