A rental property can generate “taxable losses” that can be used to reduce your normal salary income.
If you’re renting out your personal residence or second home, you’re a landlord. You’ll have to report the rental property on your federal income taxes.
If you’re an investment property owner or are thinking about becoming a landlord, find out how the depreciation expense could help you maximize your tax savings.
Struggling with your tax bill? There might be hope. The IRS is trying to make it a little easier for […]