We've collected everything real estate investors need to know for a streamlined tax season including 2023 rental income tax rates and deadlines, free downloadable landlord tax resources, helpful articles, and expert insights.
Discover the tools and knowledge to maximize your rental property tax deductions, minimize tax liabilty, and increase your portfolio ROI.
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In this episode, we discuss real estate tax strategies with CPA, Christanne Wright. Christanne is a real estate expert CPA who has a magnitude of experience helping real estate investors minimize their tax bills each and every year.
Christanne advises on the importance of good record keeping, saying, "If you don't keep good records, and the IRS is so dependant on record-keeping, that you run the risk of having a lot of, or even all of your expenses excluded from your tax file."
Rental income is taxed as ordinary income and you pay according to your marginal tax bracket, which is between 10% and 37%.
Important rental income tax forms
To help you streamline your tax season we've put together this guide outlining the main landlord tax documents you need to know about.
Owning and managing rental properties comes with several advantagous tax rules. However, they can be complex and often trigger IRS audits.
In this guide, we look at how to categorize expenses for your rental property and take you through all of the different expense categories.