Are property management fees tax deductible?
An example of an AI chatbot conversation about property management fees and their tax deductibility.
Are property management fees tax deductible?
Yes, property management fees are generally tax deductible as a business expense if you own rental properties.
What specific fees can I deduct?
You can deduct fees for services like tenant placement, maintenance, and management services.
Do I need to keep receipts for these fees?
Yes, it's important to keep receipts and documentation for all deductible expenses in case of an audit.
Are there any limits on how much I can deduct?
There are no specific limits on property management fees, but they must be reasonable and necessary for your rental business.
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