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Tax Deductions for Rental Property

Vacation rental tax deductions

Profits and Losses on Vacation Rental Homes The rent you collect from your tenants counts as income. You offset that income and lower your tax bill by deducting your rental home expenses including depreciation. For example, you received $10,200 in rent during the year and had expenses of $3,200, then your taxable rental income would be $7,000. You can even write off a net loss on a rental home as long as you meet income … Read more…

Buying A Cape Cod Investment Property

BeachHouse

Cape Cod is a peninsula off the east coast of Massachusetts boasting 550 miles of coastline.  Much of that coastline is occupied by gorgeous, sandy beaches and picturesque harbors — making Cape Cod an ideal vacation spot and a perfect location for purchasing a second home.  If the thought of owning a home on the Cape appeals to you, but you just don’t see how you can afford it until later in life, perhaps you’re not considering … Read more…