Maximize deductible expenses related to the rental property
Deduct mortgage interest
Deduct property taxes
Deduct insurance premiums
Deduct repairs and maintenance
Deduct utilities you pay
Deduct property management fees
Deduct advertising and tenant screening costs
Deduct travel expenses for property management when allowed
Deduct legal and accounting fees
Deduct depreciation on the property and eligible improvements
Use a cost segregation study when appropriate
Track and deduct home office expenses if you qualify
Separate personal use from rental use
Keep detailed records and receipts
Use retirement accounts or tax-advantaged structures where appropriate
Offset rental income with passive losses if you qualify
Qualify for real estate professional status if applicable
Use the short-term rental tax rules if they fit your situation
Time repairs and expenses strategically within the tax year
Make energy-efficient or other eligible improvement claims when available
Consult a qualified tax professional for your specific situation