Refinancing a rental property can be a smart financial move, and some of these costs are often tax-deductible, saving you money when tax season rolls around. The key thing to…
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Deducting tree removals: Tax rules explained
When a tree falls on your rental property, it doesn’t just make a sound—it can create a significant dilemma and potentially become a sizable unplanned expense. Whether cleaning up the…
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14 common short-term rental tax deductions (2024 guide)
Let’s say you just replaced the outdated kitchen appliances in your short-term rental, hoping to attract more guests, enhance their experience, and increase your rental income. Are you curious if…
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Deducting HELOC interest on rental property: Tax rules explained
A home equity line of credit (HELOC) is a useful tool for investors wanting to upgrade their property or use the funds to buy a new property. However, the tax…
Is mortgage insurance tax deductible on a rental property?
Can deducting mortgage insurance reduce your taxable net income and put more money in your pocket? With the IRS’s maze of rules and regulations, pinpointing exactly what you can deduct…
Deducting insurance for rental property: Tax rules explained
When tax season rolls around, do you wonder whether you’re missing out on critical deductions? Knowing which operating expenses you can and can’t deduct could determine whether you pay more…
Deducting HOA on a rental property: Tax rules explained
Did you know you may be able to save money on taxes every year by properly deducting homeowners association (HOA) fees for your rental property? These tax savings could really…
Deducting lawn care for rental property: Tax rules explained
Can you shave dollars off your tax bill by deducting the cost of keeping your rental property’s lawn pristine? The short answer is yes; however, there are a few conditions.…
Biden calls for housing tax credits
President Joe Biden delivered the State of the Union address last week, and there were some interesting takeaways for real estate watchers. Chris Clow of HousingWire reports that the White…