Getting your tax return in order can be a confusing task at the best of times, but when you’re a hotel owner, investor or operator, it can be even more complex when you factor in all the deductions you’re entitled to for your hotel.
One of the main reasons hotel owners fail to take advantage of depreciation deductions is because they believe their hotel is too old to warrant making a claim, a myth seeing hotel owners lose out on thousands of dollars each year which needs to be dispelled.
Five things hoteliers should know about depreciation
As owners of a commercial property, hoteliers are entitled to a range of depreciation deductions, however, many hotel owners and operators remain unaware of this tax benefit and thus are missing out on thousands of dollars each year.
