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💰 Normally when you make money, you need to pay between 20-40% of that in taxes depending on your tax bracket!
🏡 However, if you buy real estate, there’s a good chance that you won’t have to pay any taxes on your rental income.
🔻 This is because of depreciation. Even though your property may increase in value every year, the IRS will allow you to write off 1/27.5 of the structure’s value against the passive income that your real estate portfolio generates.
📉 Depreciation is one of the main benefits of investing in real estate and the beauty is that it’s only a “paper loss” that helps you pay less taxes!
