**Note** Please seek professional counseling, this article is for educational purposes.
These are some tax deductions that some real estate investors might be able to deduct, of course please seek a professional. I will interview a tax professional either in January or February regarding the deductions below.
- Repairs- Doors, floors, anything else you would consider repair costs?
- Amortization- Paying off debt over time in regular installments of interest and principal to repay the loan in full by its due date.
- Interest- Any interest expenses that you incur which are associated with money used to buy rental real estate are classified as deductions.
- Maintenance-Have you painted your investment property, or minor things like that?
- Home office- Are you using a bedroom as an office, or do you have a virtual office.
- Depreciation- Depreciation is an annual deduction that is granted to investment real estate owners/landlords.
- Transportation and Travel- Have you gone to business meetings? keep track of your mileage and your meals.
- Insurance and Property Taxes- Are associated with rental real estate are classified as deductions.
Get more info from the IRS: