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,…
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Legal & Taxes:
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…
Understanding Passive Activity Limits and Passive Losses [2023 Tax Update]
As a rental property owner, it’s not uncommon for your properties to produce a net loss for tax purposes thanks to depreciation and other operating expenses. The treatment of these…
Real estate corporations and tax time: Your FAQs [2023 Update]
In order to scale our real estate investing businesses, many of us form companies to ensure tax efficiency and liability protection—to name only a few benefits. Companies are the best…
10 Common Landlord Tax Deductions [2024 Update]
Familiarize yourself with these top landlord tax deductions that can help reduce your tax burden to the IRS. 1. Depreciation Depreciation is one of the biggest and most important deductions…
