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In this video, I'll explain how real estate investments can offer several tax benefits 🤗💰💰 that can help you reduce the overall cost of ownership and potentially 📈💵 increase returns. If you like these quick updates on the market every day, then subscribe below. Subscribe to the weekly newsletter at thelimitedpartner.com/news.
You have to plan for and take action 🤑🤑 now to take advantage of these. You can't wait till the year's over. 👉 Deduction of mortgage interest. Maybe there's one benefit of higher 📈 interest rates right now, but that is a good 👌 benefit. Depreciation deduction. So unlike your personal residence, you can take a deduction 📉 for investment in real estate 🏘.
This is typically the biggest tax advantage of real estate. Capital gains tax exclusion. So if a property is held from more than one year, then the gains 📈 are taxes capital gains, which are typically lower 📉 than your regular income rate and a 10 31 exchange. So a 10 31 exchange allows real estate 👉 investors to defer paying taxes on the sale of a property by using the proceeds to purchase a similar property.
Take advantage of these 2023.