As a rental property owner, you can claim deductions to offset rental income and lower taxes. Broadly, you can deduct qualified rental expenses (e.g., mortgage interest, property taxes ...

This may not always be the case if you’re running a professional rental business, in which factors like tax deductions and depreciation are always maximized in a way to pay the least taxes possible.

While homeowners can deduct property taxes and mortgage interest during tax season, rent paid on a personal residence is typically not deductible on federal taxes. Instead, the property owner ...

Just because you work from home doesn't mean you can deduct a home office on your taxes. Here's how to qualify for the ...

The mortgage tax break is one of the most common. It enables you to deduct the home mortgage interest on the first $750,000 of your loan/debt if you're single or married filing jointly, or $375,000 if ...

and deducting expenses are among the more effective ways to keep more of the profits when offloading rental properties. Capital gains taxes can sting. However, with the help of a lawyer or tax advisor ...

You may be surprised to hear that some renters can get a property tax deduction. If your lease agreement states that part of your rent goes towards property tax, you could qualify for a property ...

So are these HOA fees deductible on taxes? It depends. If you buy a property as your primary ... Can I write off HOA fees on a rental property? If you own a rental property and lease it to a tenant, ...

In addition to normal mileage rates and tolls, you can deduct expenses related to your business. If you rent a car for business purposes, you can only deduct the portion of the cost that is related to ...

The IRS might want to verify that you're actually eligible for the home office deduction. Plan to keep copies of all your ...

As a rental property owner, you can claim deductions to offset rental income and lower taxes. Broadly, you can deduct qualified rental expenses (e.g., mortgage interest, property taxes ...

This may not always be the case if you’re running a professional rental business, in which factors like tax deductions and depreciation are always maximized in a way to pay the least taxes possible.