Real Estate Investing
Real Estate Investing To lower Your Taxes
An excellent way to save on taxes and keep your money is through owning real estate investment properties. Any interest that you pay on a loan and real estate taxes that are secured by a house is an itemized deduction on your federal income tax return. Also any points that you paid when you purchased the home is also tax deductible.
When you sell your home, any appreciation up to $250,000 is tax free. Don’t forget if you’re married and file jointly its $500,000.
You will receive a tax write off each year from the depreciation (Foreclosure Training)of the property when you purchase an income producing property (duplex, rental unit or an apartment fall into this category).
If you own your own home you will be able to write off the property taxes on your primary and secondary residence. If you choose to refinance your properties you can do what ever you want with the cash and still be able to write off the interest payments. Last but not least the interest you pay on an income producing property falls under operating expenses as one of your deductions. (Foreclosures.com Lists)
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Dave Simmons said:
Very good and useful information. Keep up the good work.
Panzer said:
Good site, admin.
Lexus said:
Good site, admin.
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