Starting in 2025, the cap for deducting these taxes has been raised from $10,000 to $40,000. The caps are expected to be raised 1% every year through 2029, before reverting back to $10,000 in 2030.
If you choose to rent out your home for extra income, build equity and have someone else pay your mortgage, you might be in ...
If you’re a new real estate investor, you might ask yourself, “Will the IRS know about my rental income?” The answer is simple: Yes, the IRS will know if you have rental income. And if you try to ...
Nicole Shirvani is a board-certified, full-time psychiatrist in Florida. But she’s also a profitable property investor, with ...
On Wednesday (12 November), the ATO withdrew its existing ruling on rental property deductions (IT 2167) and released a new draft tax ruling (TR 2025/D1) and draft practical compliance guides (PCGs), ...
Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real ...