Generally, any income that you receive from renting out property will be liable for income tax, so you must include it in your tax return. At the same time there are many expenses that can be deducted in calculating your net rental income.

These expenses include mortgage interest, property taxes, utility costs, house insurance, maintenance costs, advertising, and property management fees. Don’t miss out on deductions and credits you are entitled to, Comptabilité KC Accounting will help you get the maximum.