When we talk about making money out of an investment property, two things first come to mind: the income from renting it out and the profit from selling it. These two surefire ways to generate cash flow. But as an investor, keep in mind that one of the biggest benefits you can reap is its tax benefits.
No, a powerful tax savings plan isn’t just about paying fewer taxes. It is about maximizing cash flow. It means letting you and your loved ones receive more money each and every month or year, which translates to supercharging your wealth.
Basically, the more deductions investors can claim on their property, the higher the tax benefit. As a wise property investor, it is imperative to claim as many deductions as you’re legally entitled to. Your goal is to shift the money that would otherwise go to the government back into your pocket.