Owning a rental property is a great way to force yourself to save money (mortgage pay down) and boost your wealth – when done right!
If you are doing it right: the more you make = the more you pay in income taxes 🙁
But…There is a legit way to reducing your rental income taxes.
In Canada, the great thing about real estate investing is that there are tons of write-offs. If you still hold a mortgage – see it as a positive thing. With the power of write-offs, you could end up paying very little or no taxes.
Watch this video to find out how. The last tip is the most powerful strategy for washing out your rental income..and keeping more $ in your wallet.
4 Very Effective Rental Income Write-offs to Keep More Money in your Wallet (and keep you smiling)