Tax Tips news / Real Estate Date: Apr 03, 2004 - 12:23 AM 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. Sign up to receive more interesting articles from our FREE Newsletter. This article comes from Monument Investments http://www.monumentinvestments.com/ The URL for this story is: http://www.monumentinvestments.com/modules.php?op=modload&name=News&file=article&sid=3