Tax season is here, folks. You’ve probably already submitted your documents, but if you want to get a head start on next year, you should consider investing in a property here in Florida.
Investing in real estate continues to be one of the best ways to cut taxes and build wealth. Tax benefits from income-producing properties include the ability to recover costs, depreciation deductions, and using a 1031 exchange for deferring profits from your investments.
Even if you only plan on living here for a few months a year, investing in a property here in Florida is a smart move. Think about it—you’ll be able to buy the house at today’s prices and rates, which are only going up. There are also many tax advantages to consider, as well as the potential of owning an appreciating asset here in Florida. You can rent the property out all year, or just on a monthly basis.
If you’re thinking about flipping a home, I wish you good luck. Buying, holding, and waiting for appreciation is the much better strategy. If you think you’re going to get in, get out, and make a quick killing, you’re watching too much HGTV.
If you have any questions for me about buying a property in Florida, don’t hesitate to give me a call or send me an email. I would be happy to answer them. I can’t wait to hear from you.