Can someone who understands taxes give me a basic understanding of how owning a rental property can be or is used as a tax shelter or a method of reducing what you pay in taxes?
Are you a snitch IRS agent bro
Laziest IRS agent ever.
When you own income producing properties there are tax programs that can be beneficial.
Read about::
Depreciation
Tax deductible non mortgage expenses (repairs)
Mortgage deductions
Capital gains
And 1031 exchanges.
2 Likes
No man. No
Lazy… kind of
Irs agent. Nope
Too fn busy to do my own research lately… absolutely.
Your other post seems like it will help me narrow down what I research and read up on… thank you