Blog

Apr
19
Top 5 Landlord Tax Deductions
owners, investors, taxes, landlords, property management, tax deductions, tax time

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Paying taxes is part of life, fortunately there are some beneficial deductions landlords can take advantage of. Here are 5 common deductions.





  1. INTEREST




Interest can be the one of the biggest deductibles for landlords. Common deductions include interest from mortgage payments as well as credit cards used for goods or services with the rental. Find out more about interest deductions.





  1. DEPRECIATION




Landlords can get back some cost through depreciation of their rental home. Here's how depreciation works.





  1. REPAIRS AND MAINTENANCE




Reasonably, the cost of repairs and maintenance can also be deductible in the year they are incurred. See here what is considered a deductible repair/maintenance and what an improvement/upgrade is





  1. INSURANCE




Insurance premiums are also deductible. This includes, fire, flood, theft as well as landlord liability.





  1. LEGAL AND PROFESSIONAL SERVICES




From attorneys, to accountants, to property managers…. You can deduct these fees as operating expenses.



Check out some other articles for more ways to save on your deductions.


Landlordology - Deductions for landlords


Houselogic - Tax Deductions for rental homes


Sparkrental - 16 deductions