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Investing in real estate is one of the great tax shelters available to persons, especially in high tax brackets. What is a tax shelter? Basically, it’s an investment that allows you to keep some money that you’ve earned, rather than give it to Uncle Sam in the form of income taxes.
Real Estate investors of income property are allowed a depreciation allowance which has the same affect on your income tax as exemptions for your dependents. It comes right off the top. For example, a brick office building is “expected" to last 40 years. If you bought it for $100,000, you could deduct $2,500 per year. By using ‘‘accelerated
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