TAX BENEFITS
Most expenses related to owning your property are tax deductible. Your TAXABLE INCOME is reduced directly by the expenses from your property.
Expenses that reduce your Taxable Income are:
Depreciation (Sales price of home divided by 27.5 years)
Property taxes
Mortgage interest
Utilities
Insurance
Repairs & Maintenance
The depreciation expense deduction can result in a positive cash flow property becoming a loss maker for tax purposes.
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