On August 30, 2023, the Internal Revenue Service (IRS) provided relief for individuals and businesses affected by Hurricane Idalia in parts of Florida.
Taxpayers have until February 15, 2024 to file various federal individual and business tax returns and make tax payments.
Read more: IRS Provides Relief for Those Impacted by Hurricane Idalia
Congratulations on completing the journey of purchasing or renovating a property! Now that you’ve reached this milestone, it’s time to turn your attention to an essential aspect of real estate investment: taxes. Fortunately, real estate investors like you have access to a plethora of favorable IRS code sections to ease the tax burden. One particular favorite among savvy investors is the highly beneficial – bonus depreciation. In this blog, we’ll delve into the exciting realm of bonus depreciation and explore how it can be your ultimate ally in optimizing tax advantages and enhancing your overall real estate investment strategy. Let’s dive in and uncover the tax-saving potential that awaits you!
Read more: Navigating Real Estate Tax Benefits: Exploring Bonus Depreciation