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| news: Tax Tips |
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 Tax time! Are taxes going to hurt your profits this year? Well, here are some deductions that can save you money.
1. Real Estate Taxes: Property taxes are deductible, and can be a major expense.
2. Depreciation: Be sure to deduct depreciation; it is the tax-shelter benefit of Real Estate ownership.
3. Maintenance Expense: This could be huge. Expenses include repairs, heating, lighting, water, gas, electricity, telephone, and other service costs.
4. Management Expense: Deduct the cost of management services, including stationary and postage.
5. Traveling Expense: Travel for business? Even traveling back and forth from properties for repairs are deductible.
6. Interest Expense: Interest on mortgages and other debts relating to the property.
7. Insurance Expense: The cost of premiums for fire and casualty loss are included here.
8. Advertising Expense: Vacancy signs, newspaper ads, and websites.
Be sure to deduct as much as possible, but it is advised that you consult a tax professional.
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Copyright 2006 Monument Investments, L.L.C. ©
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