Are you a landlord? Did you know about these tax deductions?

Mortgage Interest is considered a business expense. Each time you pay for this, this can be written as a tax-deductible

Property Tax for an investment property can be written down as a tax deductible.

Repairs made to your home are considered a business expense. Things such as fixing a hold in your wall can be considered a business expense and thus, can be written down for tax deduction.

Depreciation can be used as a tax deduction as the cost of property drops and its useful life is reduced.

Utilities such as gas, water, and electricity are monthly payments most people fail to account for as a tax deductible.

Insurance not only protects you and your investment, but can help reduce tax on top of this.

If you have any real estate questions, feel free to call me at (718) 767-8200. I would love to hear from you.