Property depreciation is a major advantage for investors seeking to lower their taxes.
John Sage explains that with a proper depreciation schedule, investors can deduct the property’s wear and tear and reduction in value from their taxable income, saving money each year.
A depreciation schedule provides the only legal mechanism to claim the decrease in value of a property’s structure, ensuring investors maximize their returns and protect rental income.
Even if the property has undergone previous renovations, working with a qualified surveyor ensures the investor can claim all eligible depreciation deductions.