The rich are not rich because of the money they receive, but also, for what they do not have to pay for. Many people are afraid of having Real Estate, in specific, properties for rent.
However, it is one of the businesses from which many things can be deducted from taxes.
Here I will present 3 things that you might not know that you can deduct from your rental business.
1. Office Expenses: When your office is in one of the rooms of your house you can deduct a percentage of your utilities. Also, electronic devices, cell phones, pencils, pens, papers, and everything else necessary to run your business.
2. Advertising: From ads on the radio, newspapers, magazines, internet, to personal cards, etc., all of that are deductible expenses.
3. Education: If you want to go to seminars, study, buy books, or buy educational materials related to your business you can also deduct it.
Having a rental business has many advantages, not only the income that you get each month, but also the money that comes back into your pocket. It is not only about what is generated, but about what is saved in the process. So do not be afraid to invest and continue studying all your possibilities.
By Raidily Lopez