Rental Property Tax Deductions (What Can You Deduct Now vs Depreciate Over Time?)

rental properties

Are you searching for more information on rental property tax deductions?

2021 is quickly drawing to a close, and now is the right time of year to start organizing for filing taxes in 2022.

Understanding which expenses are tax deductible for your rental property is important. And, knowing how to deduct rental property expenses which expenses you can deduct now versus depreciate over time is also important. There is a difference according to the IRS in repairs vs rental property improvements for tax purposes.

If you do something to a property to add value, you must depreciate that expense over 27.5 years and can’t deduct that entire expense in the year it was incurred.

Deducting repair costs and other things such as property management fees, taxes, utilities are all things that can be deducted in the year they were incurred.

Owning a rental property tax deductions are great but educate yourself so you aren’t surprised on what you can and can’t do. Check out for more information on allowable deductible expenses.

Contact RPM Central Valley

At RPM Central Valley, we take the hassle out of rental property tax deductions so you don’t have to do any of the work yourself.

Our property management team includes a fully accounting department so that you can have peace of mind in knowing that you will qualify for all of the tax deductions at your rental property on a monthly basis.

To learn more about the property management services that we can offer you, contact us today at (209) 572-2222, or click here to connect with us online.