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How Much Tax Do I Have to Pay on Rental Income?

How Much Tax Do I Have to Pay on Rental Income?

Buying property with the intention to rent is a great way to generate cash flow and protect your money from inflation. An added bonus to rental income is the appreciation of the property over time. So, how much tax do you have to pay on rental income? Rental income is taxed the same as ordinary income. Therefore, if your marginal tax rate is 24% and your annual rental income is $100,000, you would owe $24,000 in taxes on your rental income. However, you can significantly reduce the amount of taxes you owe on your rental income by reporting things like deductions and depreciation of property value. Read on if you would like to learn how to pay less rental income tax. How Can I Lower the Amount of Taxes I Pay on Rental Income? There is nothing shady about lowering the...

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Freedom Number Cheat Sheet updated image

Find Your Freedom Number!

How much real estate will it take to reach your dreams? Unlock your "freedom number" using the step-by-step process I use with my own family.