Save Money on Your Taxes Today!!!

 

Chattel is Personal property that you can deduct form your taxes over 5, 15, 27.5 years.

Examples of chattel are:  Appliances that are not permanently attached to real property, flooring, light fixtures, cabinets, landscaping and many other items.  Chattel is anything owned and tangible, other than real estate (and by real estate, I mean the actual building).

It’s property that is movable, not fixed to land. 

 

You can depreciate chattels (personal property ) from your taxes at an accelerated rate.  Your rental property is considered a business to the IRS if you are collecting money for rent.  When you rent your property out, the occupant also rents your chattel or personal property in the house which loses value because of the wear and tear from the tenants use.  The IRS allows you to depreciate personal property off your taxes to retain some of the residual value lost by allowing renters to utilize your personal property.

 

Rental income and capital gains on your rental properties could put you in a higher tax bracket which is around 35% (in some states it can be over 40% in states, like California).  Depreciating your personal property could lower what you will owe to the IRS.

 

Call us today!  Our services could be worth thousands of dollars in tax savings.  This is a must-have for anyone with real-estate investment rental properties! (435) 881-9717