Tax Guide for Rental Real Estate
Tax Guide for Rental Real Estate Reap Financial Rewards From Your Real Estate Investments Have you ever pondered the idea of owning rental property? What could be better than enjoying tax breaks while tenants buy your property for you? Sadly, there’s a lot...
Personal Use of Rental Property
Personal Use of Rental Property Personal Use of Rental Property — Roommates and Boarders Renting Part of Property If a portion of the property is rented out, and a portion is used for personal purposes, any reasonable method of allocating expenses between personal and...
Repairs & Improvements
Repairs & Improvements The cost of repairs to a rental property may be deducted as a current expense. The cost of improvements must be recovered by taking depreciation. Whether an expenditure qualifies as a currently deductible repair, or is required to be...
Rental Income & Expenses
Rental Income & Expenses Rental Income Rental income includes any payment received for the use or occupancy of property. In addition to normal rent payments, the following items are reported as rental income. Types of Rental Income Description Advance rent Any...
Audit Proof Your Rental Properties
Audit Proof Your Rental Properties Has your rental property come under scrutiny by the IRS? Are they interested in your accounting for your rentals? Have you considered “audit-proofing” your rental properties? You do it to your home when you bring young children in;...Posts by Author
 Keith Huggett |  Allyson Huggett |
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