Lower Your Taxes - BIG TIME! 2023-2024: Small Business Wealth Building and Tax Reduction Secrets from an IRS Insider, 9th Edition

15

The Four Most Overlooked Real Estate Tax Deductions in America

Unquestionably, there is progress. The average American now pays out almost as much in taxes as he formerly got in wages.

—H. L. Mencken

Chapter Overview

•   Learn about when you should deduct all mortgage points paid to banks.

•   Understand a real estate deduction most often overlooked: unamortized points.

•   Learn why making repairs in investment property is much better than making improvements.

•   Learn why making improvements on a principal residence is much more important than making repairs.

•   Learn how to IRS-bulletproof your designation of repairs or improvements.

•   Understand the new universal exclusion that allows you to avoid up to $500,000 of gain.

•   Learn ...