Ten Fast Tax Tips/Deductions for Your Rental Properties . . .


Considering the purchase of a rental home is considering going into business for yourself!  You will have tax advantages if you remember to itemize.  Here are just a few of the deductible costs that IRS will permit.

1. Maintenance items

2. HOA fees and assessments

3. Legal fees for tenants not behaving nicely

4. Management fees and professional service fees

5. Travel costs for visiting the property (see your tax person for details)

6. Interest on the mortgage

7. Homeowner insurance, warranty company yearly subscriptions, etc.

8. Advertisement and "placement fees" charged by professionals

9. Depreciation (See you tax person for the formulas and detail

10. Refurbishing of the property (painting, flooring, landscaping) etc.

Always check with your professional tax advisor prior to taking any deductions.                      Here is another useful tip:

Contact Deborah or Bill Simmons for adding inventory to YOUR business of owning rental properties.  Call 602.573.3103 today!