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Although landlords are required by the IRS to report all rental income and to pay taxes on that income, there are many tax deductions landlords can take advantage of to lower their taxes. The key thing is to keep meticulous records and receipts of all your business-related expenses. For the landlords with records and strategies in place, the tax deductions can really add up. Here are five tax that might surprise you.
Keep in mind, we always recommend consulting your counsel for help with your landlord income reporting and tax deductions. For more guidance on landlord taxes, see our Tax Page.
For more resources for real estate investors, visit our Resources Page.