{"id":407,"date":"2022-10-17T20:37:13","date_gmt":"2022-10-17T20:37:13","guid":{"rendered":"https:\/\/www.rentalincomeexpense.com\/blog\/?p=407"},"modified":"2022-10-17T20:37:14","modified_gmt":"2022-10-17T20:37:14","slug":"tax-breaks-for-landlords","status":"publish","type":"post","link":"https:\/\/www.rentalincomeexpense.com\/blog\/2022\/10\/17\/tax-breaks-for-landlords\/","title":{"rendered":"Tax Breaks for Landlords"},"content":{"rendered":"\n
\"Tax
Tax breaks for landlords can help them save money.<\/figcaption><\/figure>\n\n\n\n

Landlords are entrepreneurs trying to find a way to build successful businesses. Collecting rent, managing expenses<\/a>, and keeping tenants happy are just a few of the many things on the landlords’ “to do” list. Believe it or not, the tax code is one way landlords can follow to try and minimize expenses. We will share a few tax breaks for landlords below. We recommend consulting with a tax professional or CPA to best handle and maximize your tax return potential.<\/p>\n\n\n\n

Mortgage Interest<\/h2>\n\n\n\n

If you have a mortgage on your rental property, you are most likely paying interest on your mortgage payments. Landlords can deduct mortgage interest at tax time, which for many landlords, is their largest deduction.<\/p>\n\n\n\n

20% Pass Through Deduction<\/h2>\n\n\n\n

From 2018 through 2026, the 20% pass through tax deduction<\/a> allows landlords to be taxed on 80% of rental net income. This deduction is only for pass-through entities where landlords run their rental business as a sole proprietor, LLC, or S corporation.<\/p>\n\n\n\n

Maintenance Expenses<\/h2>\n\n\n\n

Landlords can deduct the expenses related to repairs<\/a> to rental property. For example, the cost to repaint the house, fix a leaking pipe, or replace a broken toilet are deductible. To make life easier, landlords can use income and expense tracking<\/a> tools. A free tool designed just for landlords is RentalIncomeExpense.com<\/a>.<\/p>\n\n\n\n

To maximize tax breaks for landlords, please consult a tax professional or CPA.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Landlords are entrepreneurs trying to find a way to build successful businesses. Collecting rent, managing expenses, and keeping tenants happy are just a few of the many things on the landlords’ “to do” list. Believe it or not, the tax code is one way landlords can follow to try and minimize expenses. We will share […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[20],"tags":[19,65],"class_list":["post-407","post","type-post","status-publish","format-standard","hentry","category-landlord-taxes","tag-landlord-accounting","tag-tax-breaks-for-landlords"],"yoast_head":"\nTax Breaks for Landlords - Advice and Tips for Landlords from RentalIncomeExpense.com<\/title>\n<meta name=\"description\" content=\"Landlords are business owners. 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