This is nothing I m jumping into, as I have a LOT to learn. But I m taking this step by step and this is one of many questions I have.
Let s say for example I have a mortgage for a 50k house at 200/month and I m renting it out for 700.
Based on my $500/month (6k-Annual), in the state of FL GENERALLY speaking, can anyone give me some sort of ballpark figure as to how much I may pay for one year s taxes based on rental income alone?
Read more:
Generally speaking… How much should I be expecting to pay in taxes for rental income?