Kolin DeShazo

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JPMorgan says "all the recent collapses in the #crypto ecosystem have been from centralized players and not from decentralized protocols."
Retweeted by Kolin Lukas
JUST IN: Amazon $AMZN to fire 10,000 employees, NYT reports.
Retweeted by Kolin Lukas
There’s honestly not a lot of people I trust in the industry currently
Retweeted by Kolin Lukas
I’m keeping a mental list of all the big name crypto twitter people who oddly haven’t tweeted in over five days 🧐
Retweeted by Kolin Lukas
(•_•) ∫\ \___( •_•) I trust you Sam #FTX _∫∫ _∫∫ \ \
JUST IN: 🇭🇰 Hong Kong-based crypto exchange AAX suspends all operations, citing system upgrades.
Retweeted by Kolin Lukas
Think #crypto isn’t fucked rn? Find a name not on this list lol.#FTX @SBF_FTX
I know it’s a bad time and fans of his might hate on me or whatever but @aaroncarter owed me over $600K in #bitcoin. Now that he’s passed I guess I just take a big L. Kind of fucked. The whole situation is fucked. 😔
all this forehead and i still can’t remember anything
Looks like BlockFi is completely dead. Internal Slack deactivated, people tell me they stored almost all customer deposits on FTX
JUST IN: FTX US suspends withdrawals.
Retweeted by Kolin Lukas
Because verified twitter had separate twitter tabs etc where it separated them from regular accounts. You’re “purchased” checkmark ✔️ is now rendering the separation useless, and it was very very useful for high end - celeb accounts. twitter.com/olivia_p_walke…
BlockFi says it can no longer operate its business as usual; pausing client withdrawals Wow
Retweeted by Kolin Lukas
Bounce from 12k to 100k #BTC will be epic
BREAKING: Binance says they are NOT BUYING FTX unless FTX US is also part of the package! 🚨 $FTT
Retweeted by Kolin Lukas
I can’t fathom there being no bail out. This can’t be real. You can’t just lose 8 billion dollars of everyone’s money and declare bankruptcy. That’s fucking absurd. This place is going to get extremely dark. Way too many people’s lives have been irreparably ruined.
Retweeted by Kolin Lukas
There was no way to know FTX was overspending. Unless you watched, football, basketball, baseball, probably hockey, soccer, video games, youtube videos, podcasts, social media, or really anything anywhere for the last few years.
Retweeted by Kolin Lukas
Fed: Once you're poor, unemployed & homeless we'll cut rates again.
TechnicalRoundup was sponsored by Blockfolio/FTX in the last year or so. I didn’t expect it to blow up. I feel awful to have lent it credibility via association — I am sorry. I’ve been making crypto content since 2017 and will continue doing so, sponsored or not. Cheers.
Retweeted by Kolin Lukas
Everyone coming to complain about #PowerBreakDown
nothing like a suspicious 2 billion dollar #powerball mystery to bring the nation together
Retweeted by Kolin Lukas
#BreakingNews California lottery says #powerball numbers have been drawn.
#Binance  CEO says the company will liquidate its $500 million FTX position because they "won’t support people who lobby against other industry players behind their backs."
JUST IN: Coinbase $COIN reports a net loss of $545 million in Q3 2022.
Wells Fargo reported a NINETY percent decline in mortgage originations. That is *insane*.
Did you think we only had one announcement? Think again. Google Cloud is working with @solana to bring Blockchain Node Engine to the Solana chain next year, so it will be easy for anyone to launch a dedicated Solana node in the cloud ↓ cloud.google.com/blog/products/…
Retweeted by Kolin Lukas
“Retail investors are losing money on unregulated #cryptocurrencies” -
There you have it. This is how real estate investors can bring in hundreds of thousands of dollars and pay little to no taxes. You can do this too with the right qualifications & business/tax structures. Always consult a tax strategist/CPA (I'm neither, just have good ones)
18/ You can even use it on business vehicles via the IRS 179 deduction 👇🏻
17/ Bonus depreciation is not JUST a real estate concept either. Whether you're a freelancer, realtor, or side hustler with an LLC, you can use this for business equipment. Buy a $1,000 laptop for business? Write that entire amount off this year instead of over 5 years.
16/ This is extremely important. While most real estate tax advantages require you to qualify as a real estate professional (which most don't have the time for)... This is a massive advantage for your average W-2 earner looking to offset active income & invest in STRs.
15/ Short-term rentals (<7 days on average) are considered ACTIVE income, not passive. The requirements: • You must "materially participate" by spending 500+ hours in the business OR spending 100+ hours more than anyone else • Cannot reside in the property more than 15 days
14/ Now, most of you may feel like you don't qualify after those last two tweets, BUT many of you can still use depreciation to your advantage for: • Equipment like software, cameras, & laptops • Short-term rentals like Airbnbs • Business vehicles Let's see how:
13/ Another key thing to consider is that these "passive losses" from long-term rentals that reduce your taxes cannot be used to offset ACTIVE income like your W-2 job. However, they can be used to offset your CAPITAL GAINS or PASSIVE income. 💸
12/ Here are some caveats for real estate deductions: You must... • Perform more than 50% of services in real property trades or businesses • Perform more than 750 hours of service in real property trades or businesses • Materially participate in each rental activity
11/ Don't have enough income to offset these losses? • You can carry them forward into any future year or carry back up to 5 years Missed doing this on past assets you bought? • You can go back and use bonus depreciation to "catch up" as long as it's within the last 3 years
10/ What does this mean for taxes? That $30,000 of taxable rental income now shows up as a $70,000 LOSS in year one ($30,000-$100,000). 💰 Not only do you avoid the tax on the rental income, but now you're deducting losses. 📉 Wait...there's still more...
9/ Let's say 25% of property items are on a 15-year or less depreciation schedule. Property value: $500K Depreciable value (minus land): $400K Normal depreciation schedule: 27.5 years Normal write-off: $14,545/yr Now, 25% x $400K = $100,000 can be written off in year 1 Insane.
8/ Now, for any item that normally has a 15-year or less depreciation schedule, you can take the ENTIRE deduction in the FIRST YEAR instead of spreading it out. Next year, this moves back down to 80% Let's run through that example with the $500K property we mentioned earlier...
7/ Bonus depreciation takes this a step further. Since the Tax Cuts & Jobs Act passed in 2017, any property placed in service since then and until the end of this year can be FULLY depreciated in YEAR 1! The plot thickens 📖 So let's break down what that means next...k
6/ What this does is pulls the tax benefits (3.64% write-off per year on residential property, for example) ahead. Now you get larger write-offs in the earlier years of owning the property. 📝 Now here's the real kicker from the Tax Cuts & Jobs Act: BONUS depreciation... 👇🏻
5/ Certain (non-land) items can be depreciated over shorter time frames: • Roof 🏘️ • HVAC • Wood floors • Driveway • Doors & windows 🪟 • Fences • Landscaping 🌲 The IRS has different schedules for each. Here's a rough example of how tax savings are createe27
4/ NOW...here's where it really gets interesting. The IRS allows you to segregate different parts of real estate and depreciate each segment on different (sometimes accelerated) schedules. You can do this through what's called a cost segregation study 👇�Qp
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