"Information is the resolution of uncertainty."

When you own rental property, depreciation is your best friend.

One reason depreciation is so valuable is that, unlike deductible rental property expenses such as interest and maintenance, you get to claim depreciation year after year without having to pay anything beyond your original investment in the property.

As it does each year, the IRS recently released the inflation- adjusted 2022 optional standard mileage rates used to calculate the deductible costs of running a vehicle for business, charitable, medical or moving purposes.