Updated over 7 years ago on . Most recent reply
Tax question on rental properties
Since we are taxed on our income from rental properties, how does one usually prepare for this? Let's say if the tenant is paying $1200/month how much of that would be taxed and how does one budget for that? Do other tax advantages make up for it?
Most Popular Reply
Ben, you can write off a lot but remember that the lower your NET income on your taxes, the lower your DTI for any future deals within a few years will be. Are you planning to finance another deal in the next couple years?