Taxes….Oh Taxes…. Don’t you just love that word…. Taxes?!
Sometimes it can be an ugly word and something you don’t want to face, come the beginning of a new year. BUT if you are an owner of a rental property, there could be some pros come tax season that maybe you weren’t aware of or simply forgot about.
Do you ever think about Tax Deductions? According to Wikipedia “tax deduction is a reduction of income that is able to be taxed, and is commonly a result of expenses, particularly those incurred to produce additional income. The difference between deductions, exemptions and credit is that deductions and exemptions both reduce taxable income, while credits reduce tax.”
Click here for some information we found Brought to you by the National Association of Realtors® about the deductions you can enjoy because you are an owner of a rental property.
We hope your 2014 was a good year and that 2015 is even better! If we can be of service to you and your rental property, call us today or click here to contact us.
Wishing you the finest of days!