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Top 5 Tax Saving Strategies For Real Estate Investors

Does the thought of filing your taxes this year overwhelm you with anxiety? Are your business receipts unorganized and sparse? Not to worry, these tax saving strategies will help you get back the money you deserve this year.

The key to a successful tax season is preparation. Make an appointment with a CPA, collect your documentation (including expenses and any charitable donation receipts) from throughout the year,  write down any questions you have for you CPA, and contact the IRS if you are missing any important paperwork.

Remember, having as many records of transactions that you can find will help you increase your return.

Tax Saving Strategies To Increase Your Returns This Year

The benefits of real estate don’t stop at financial stability and freedom, the tax savings are also advantageous.

Own a property or two? Write off the mortgage interest, private mortgage insurance, and property taxes on all properties for a return of up to 1.1 million dollars. Selling a home? Uncle Same won’t tax you on the profits you make under $250,000. Purchasing your second (or third, or fourth…) property? Use the 1031 exchange to your advantage and postpone paying taxes on one of the property.

Use these tax saving strategy tips and more by reviewing our infographic:

tax strategies saving strategies

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