5 tax advantages for real estate investors

Mynd has compiled a list of tax deductions that are sometimes overlooked by property owners. Keep on reading to learn more!

[{"selector":"#anim-621d5cf6-51ef-40f3-8da5-15cee1d4c38c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-9a006e5b-8ee3-49b2-be3c-79b1e71abfb2","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Those who are just starting their rental property business might be able to deduct a portion of their startup costs.

[{"selector":"#anim-da105c8a-dc7d-4000-a08a-db35158460fe","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-dcc1fcee-7740-438d-a7a5-9715b2ef44ff","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Costs incurred while looking for new property

[{"selector":"#anim-be795bac-4fef-4d0d-9b80-4417c6f425aa","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-9b41ff16-3117-4661-820b-ebeb90465319","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The costs of hotel, airfare, rental car, meals, and other travel expenses incurred while looking for a new rental property are tax-deductible. Medium Brush Stroke Learn more

Property owners can write off any costs incurred while advertising their business and/or a rental unit.

[{"selector":"#anim-2abb9d2e-aacb-49c9-99c1-b31ab1345744","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8ddf4ac8-75a1-43bf-a53c-d2e973139a76","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Internet and cell phone plans

[{"selector":"#anim-1679badd-4fa1-46b6-8aff-17190aec2276","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a52304cc-eca5-4099-9045-b3ee70922cb4","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Property owners who use their internet and cell phone for business purposes can deduct the percentage they spend on their business. Medium Brush Stroke Learn more

SWIPE UP NOW TO READ MORE!

[{"selector":"#anim-f9383e4d-5904-40ac-baee-5b71daa94aa3","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-62e46787-e2e2-4e35-af21-30cd0b333245","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

[{"selector":"#anim-1541927e-a217-46da-adfb-7da2a9795adb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2f36c99a-a705-4f0a-aeb6-bf7c1e0abe50","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d4f1736f-296e-475a-a995-58f0f7f9d8b3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1356e789-59e6-4eb3-8145-4e5e6ad908be","keyframes":{"transform":["translate3d(0px, 99.16371%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] More people are hoping apps can buy them love … literally Which states have the cheapest costs for college students?