Three ways you can write off real estate costs this tax season.

Did you know that investing in real estate comes with tax benefits? Most people understand that real estate is an appreciating asset, but the tax benefits are nothing to scoff at. Today we’re explaining three benefits that come with investing in real estate:

1. Mortgage interest. If you aren’t aware, you can write off your mortgage interest. This will decrease your taxable income and save you a ton of money. 

2. Property taxes. If you own real estate, you’re paying property taxes. Fortunately, you can write this off just like your mortgage interest. 

3. Depreciation. If you decide to invest in rental properties, you can write off depreciation. Don’t get us wrong; real estate is an appreciating asset. However, rental properties can be written off as depreciating assets since the government understands renters will incur wear and tear over the years. This is a fantastic opportunity for anyone looking to create long-term wealth. 

If you are looking to invest in real estate, give us a call or send us an email. We would love to discuss the tax benefits of real estate with you further!