Any tax benefit in purchasing rental property before the end of the year?
I'm planning on purchasing an investment rental property in the next 6 months, and I'm wondering if there are any tax benefits to completing that before the end of the year. Like will that purchase help out at all with any of my taxes in 2014, or do those benefits pro-rated?
(I feel like I'm not asking my question well, but I'm not sure how to ask it, so maybe somebody will get the gist of what I'm asking, or ask me questions that will help flesh out my question)