Costs to insure rental property are deductible, so depending on how you structure your rental business, you may be able to cover your life and medical insurance as part of the rental business.

Structuring your rental property as a Limited Liability Company (LLC) may permit you to deduct these costs for you and your family, but you should talk to a tax advisor to find out more.

You can also refer to IRS Publication 535 to learn more about business expenses.

Check out Real Tax Tips at TReXGlobal.com to learn more about saving time and money on properties and taxes.
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