Secret Pathway to Your Dream Vacation Home
Tax Benefits and Considerations
Owning a vacation home also comes with tax implications that can be advantageous. If you rent your property for fewer than 14 days a year, the rental income is tax-free4. Additionally, you can deduct expenses such as mortgage interest, property taxes, and maintenance costs, provided the property is rented out for a significant part of the year. It is essential to consult with a tax professional to understand these benefits fully and ensure compliance with IRS regulations.