Renting out your property is a common way to earn extra income, but do you know the tax rate? In many places, the business tax rate for property leasing ranges from 3% to 5%. 🏢 This means that for every dollar you earn from renting, you’ll need to pay a small percentage as tax. It’s important to stay informed because tax rates can vary depending on location and property type. 💡 Always keep records of your rental income and expenses, as these can help reduce your taxable amount. Consulting with a tax advisor is also a smart move to ensure compliance and maximize deductions. 📝📞 By understanding the tax implications, you can make better financial decisions and avoid any surprises during tax season. taxpayerfriendly✨