Owning and managing rental real estate as a business offers unique tax deduction opportunities.
Many expenses can be offset by deductions.
Do you have questions?
Property & Liability Insurance
Mortgage Interest – Generally reported to you on Form 1098.
Repairs – such as repairing the dishwasher, regular repainting, or fixing a roof leak.
Legal & Tax Preparation Fees related to your rental activity.
Insurance – Including fire, flood, liability and mortgage.
Non-Mortgage Interest – such as credit card interest on a card you use only for rental expenses.
Travel expenses when you travel overnight to improve property.