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New tax laws make it tempting to become a landlord
New tax laws make it tempting to become a landlord
Mar 15, 2018
March 15, 2018 - Online Content
New tax laws that went into effect this year offer a big benefit: tax cuts for landlords. That’s because those who own rental property as a business may now be able to deduct from their taxes 20 percent of rental income earned. That can add up to thousands in tax savings. And that makes for a sweet deal if you plan to buy rental property. Here’s an even sweeter deal: buy a two- to four-unit multi-family rental property then, live in one of the units as a landlord. You may be able to collect enough in rent from the other units to cover most of your mortgage payment. Taking advantage of the new tax laws can be tricky. Learn the facts. Crunch the numbers. And get advice from a tax planner, accountant, and/or lawyer before jumping in these waters. Click here to learn more.
