[Verse 1]
Sarah owns a duplex, rents the second floor
Monthly payments flowing, steady income core
Interest from her bonds, dividends from shares
Property income streams, building wealth with care
Calculate the gross, then subtract what's fair
[Chorus]
Interest, rental, royalties three
Property income, calculate free
Deduct the costs that make it run
Maintenance, taxes, depreciation
Net income shines when work is done
[Verse 2]
Mortgage interest paid on rental property
Deductible expense, reduces what you owe
Repairs and cleaning, utilities you cover
Property management fees, insurance discover
Capital improvements though, different story flows
[Chorus]
Interest, rental, royalties three
Property income, calculate free
Deduct the costs that make it run
Maintenance, taxes, depreciation
Net income shines when work is done
[Bridge]
Personal use portion, split the expenses clean
Business versus personal, keep the records keen
Vacant periods matter, timing income right
CCA on buildings, rates applied each night
[Verse 3]
Oil wells and patents, mineral rights below
Royalty payments, let the revenue grow
Bank account interest, compound year by year
Trust distributions, beneficiary clear
Source deductions noted, T-slips crystal clear
[Chorus]
Interest, rental, royalties three
Property income, calculate free
Deduct the costs that make it run
Maintenance, taxes, depreciation
Net income shines when work is done
[Outro]
Property income mastered, CPA knowledge gained
Calculate with precision, professionally trained