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Often Missed Tax Deductions for Landlords!

Posted on: Wed, 02/26/2014 - 15:38
Often Missed Tax Deductions for Landlords!

it's tax season again! And if you haven't filed your taxes yet, you want to make sure that you are taking all the deductions that you can, right?
Here's an interesting article from EZ Landord that lists 14 deductions that landlords often miss:
1. Depreciation
2. Repairs
3. Home Office
4. Travel
5. Tenant Screening
6. Mortgage Interest
7. Mortgage Insurance
8. Property Insurance
9. Losses due to Theft
10. Professional Services
11. Cell Phones/Computers
12. Settlement Costs
13. Real Estate Taxes
14. Segmented Depreciation/Cost Segregation

below is link if you'd like to read article:

https://www.ezlandlordforms.com/articles/educational/10/400/the-ultimate...

__________________

Valerie

“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss

"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown

My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...


Posted on: Wed, 02/26/2014 - 18:24 #1
reminder

Hi Valerie thanks for the updated reminder, many thanks, Jim

__________________

jbischoff


Posted on: Wed, 02/26/2014 - 19:41 #2
Yes, and

make sure your CPA accounts for these items for you if you have A CPA for your business. You have to also know which ones you actually can use. For instance you have to have a dedicated space that is only for an office if you use a room in your home for business. You cannot have a bed in there really and count that as an office according to all I have read.

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https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.


Posted on: Tue, 07/22/2014 - 06:41 #3
this is a very nice post

this is a very nice post thanks for sharing it
1.Child care expenses
2.Costs related to caring for a parent


Posted on: Tue, 07/22/2014 - 21:50 #4
I 've seen SO many landlords/REI

that DON"T have a clue.

They seem to think "I buy and rent or flip and make money"...

They MISSED out on the part of the 'POWER TEAM' you NEED to 'Properly' do REI and use it to it's Full potential.

Please take the TIME and Learn the REI business and/or HIRE a RE attorney/accountant to take care of things You don't know...or else.

__________________

Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools