Christmas has come and gone and the New Year is upon us. Walton & Tower Real Estate wants to take this opportunity to remind you of a few things that may help relieve some of the tax burden that will be waiting for you in 2017. If you own rental property, it is important to make sure you pay your dues–library dues, fire and medical dues, HOA dues and property taxes are examples of some of the costs of home ownership that can become write-offs.
Handling these expenses by year’s end will give you peace of mind as well as an improved bottom line. Make a list of annual expenses and consult your tax professional to make sure you’re taking advantage of every eligible deduction.
Happy New Year to you and yours!