Many landlords wonder if their tax deductions change when their rental property is held in an LLC rather than individually owned. The good news is that rental property tax deductions…
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Legal & Taxes:
The Key Tax Consequences of Transferring Property to an LLC
Transferring a rental property to an LLC isn’t as simple as signing a few documents. While it can help protect your personal assets, it’s a significant financial decision that requires…
The top California rental property tax deductions to know
As a California rental property owner, the state tax code allows you to claim deductions for mortgage interest, property taxes, repairs, maintenance, insurance, and even depreciation. Taking advantage of all…
How to write a notice of lease violation (free template)
You rented your property to a seemingly ideal tenant—only to find yourself repeatedly dealing with noise complaints, late rent, or unapproved pets. Despite several attempts to resolve these issues amicably,…
Can you deduct rental expenses when you have no rental income?
If your rental property sat vacant for part or all of the past year, you might be curious whether the tax code still allows you to claim deductions on your…
Tax question: Do you have to depreciate a rental property?
Depreciation is a tax deduction that allows you to recover a property’s cost over time. You can typically write off the wear and tear on your residential long-term rental property…
Tenant screening laws in New York: What landlords should know
Screening tenants in New York State is more than simply reviewing the application of someone who can pay rent on time. Properly navigating the sometimes complex state-specific laws and regulations…
Tenant screening laws in California: What you need to know
The laws around tenant screening in California can be notably stringent and differ significantly from other states. So, as a landlord, you’re not just seeking reliable tenants; you’re also aiming…
Business Travel Expenses for Rental Owners [2023 Update]
In general, business travel expenses must be considered both “ordinary and necessary” to be tax-deductible. Ordinary means it is common and accepted within the trade or business. Necessary means it…