Rental Property Tax Deductions

There are many Rental Property Tax Deductions. If you own a rental property or even if you rent out a portion of your house you can deduct these expenses:

• Advertising
• Insurance
• Mortgage interest
• Office expenses
• Legal fees
• Accounting fees
• Management fees
• Admin fees
• Repairs and maintenance
• Salaries
• Property tax
• Condo fees
• Car expenses

You can also deduct a capital cost allowance on your property but it is not recommended if you hold that property personally.

Stay up to date on our blog to get you ready for next year’s tax season.

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