6 01, 2022

It is Never Too Early in the Year to Prepare for Tax Deductions on Your Investment Property

2022-04-25T14:20:00-04:00By |Advice, Bookkeeping, Property Management, Taxes|

Even though the 2021 holiday season is still barely behind us, spring will be here soon – and that means that tax time is just around the corner. As the owner of residential rental property, you could be eligible for some nice income tax deductions. With the various changes that have taken place since the [...]

3 02, 2021

Stimulus Relief for Florida Investment Property Owners

2021-03-26T14:21:31-04:00By |Financing, Investing, Property Management, Rentals, Taxes|

  While much has been said about COVID-19 stimulus relief for individuals and businesses – including a moratorium on evictions and rent payments for tenants - not a lot has come to the forefront regarding investment property owners and their ability (or inability) to pay their own bills. That is, until recently. In the waning [...]

16 09, 2020

Does a 1031 Exchange Make Sense for Rental Property?

2021-05-04T18:26:15-04:00By |Taxes|

If you’ve been looking for a way to upgrade your real estate investment portfolio but at the same time reduce – or even eliminate – the taxes that would be due on the sale of your current holdings, a 1031 exchange could be a viable strategy for you. A 1031 exchange entails swapping out one [...]

4 09, 2019

Can a 1031 Exchange Make Sense with Rental Property?

2021-07-20T17:53:04-04:00By |Advice, Taxes|

As a real estate investor, it’s likely that you’re already familiar with the many favorable tax-related benefits that owning rental property can have. Depreciation, expenses, and even the mortgage interest can offer some nice deduction opportunities each year at tax time. But what happens when you’re in the market to sell your current rental units and [...]

15 05, 2019

How is Rental Income Taxed in 2019?

2021-07-28T12:02:50-04:00By |Taxes|

While the 2018 tax season may be behind us now, for most people, taxes are a “necessary evil” that need to be faced all year round. This can be particularly true for those who own rental property and have rental income and various tax-deductible expenses. And, with the new tax laws now in place, it [...]

13 03, 2019

Landlords and the New Tax Legislation

2021-08-31T16:56:01-04:00By |Taxes|

As April 15th looms closer, landlords may find that the new tax legislation could actually be advantageous in a number of different areas. For example, while the new laws limit the amount of mortgage interest deduction you can take, up to the first $750,000 of debt, this rule does not apply to property that generates [...]

11 04, 2018

Deducting Rental Property Expenses on Your Personal Residence

2022-04-14T14:02:44-04:00By |Taxes|

As an investment property owner, you are likely well aware that you are allowed to deduct various rental property expenses on your tax return. These costs will typically include the interest you pay on the property's mortgage (if applicable), as well as the cost of maintenance, insurance, and depreciation. But, while many landlords rent space [...]

4 04, 2018

Tax Deductions for Rental Property Owners

2022-04-14T14:01:11-04:00By |Advice, Taxes|

While owning rental property can provide you with a long list of benefits as it pertains to income and growing equity, there can also be numerous tax deduction advantages for you as the owner of this type of investment real estate. Here, for instance, there are a variety of current expense items that may be [...]

13 12, 2017

Year-End Tax Tips for Rental Property Owners

2022-04-26T18:13:19-04:00By |Taxes|

The end of the year can bring about many obligations - both personal and business. For starters, the holidays will keep most anyone busy. And, if you own rental real estate, this time of year can also signal the deadline for many important tax deductions. If you're like many seasoned investment property owners, purchasing real [...]

15 11, 2017

Winning with Rental Real Estate Through Tax Deductions

2022-04-26T18:37:55-04:00By |Advice, Taxes|

While cashing the rent check(s) can certainly be an incentive for owning investment real estate, there are other ways in which landlords can win from a financial standpoint. One of these is through the long list of tax deductions that this type of investing can offer. When it comes to real estate investments, there are [...]

27 01, 2016

Considering Your Taxable Deductions on Property Owned

2022-04-27T17:12:14-04:00By |Taxes|

We've once again moved into another new year, and many investment property owners will be looking ahead to filing taxes - and more specifically, to the deductions that can be used in helping to reduce their taxable income for the prior year. As discussed in previous posts, certainly most investors are familiar with the fact [...]

17 09, 2015

Using IRA Funds to Purchase Investment Property

2022-04-25T20:04:01-04:00By |Investing, Taxes|

When purchasing investment property, there can be a number of tax advantages. First, there's the ability to write off the amount of interest paid on the mortgage each year. There's also the potential for depreciation in the properties that you own. These alone can add up to big tax savings for property owners. What many [...]

1 07, 2015

Exploring Some of the Tax Benefits of Owning Real Estate

2022-04-25T20:26:42-04:00By |Investing, Taxes|

In addition to the many advantages of owning rental real estate - such as regular income, property appreciation, and leverage - you are also allowed to take certain tax benefits when you purchase this type of property as well. While you may already be familiar with the tax advantages of deducting your home mortgage interest each year, [...]

9 04, 2014

Rental Property Depreciation for Real Estate Investors

2022-04-25T21:30:49-04:00By |Taxes|

For all of you tax-day procrastinators out there... Let's talk about rental property depreciation for tax purposes! We have covered mileage reimbursement tax treatment in an earlier post.  Now, let's get down to more real estate-centric stuff. Owning rental property can be a good source of income, but it is income and must be reported as [...]

13 03, 2014

Meals and Entertainment Tax Write Offs for Real Estate Investors

2022-04-26T14:59:08-04:00By |Bookkeeping, Investor Mentality, Taxes|

You entertain clients and business prospects to build relationships and gain new business so lets talk about meals and entertainment tax write offs for real estate investors.  In some cases these meals/entertainment can be tax deductible. The expense must meet either the directly related test or the associated test as defined by the IRS. [...]

2 07, 2013

Tax Talk: Landlord Vehicle Expenses

2022-04-25T20:38:51-04:00By |Bookkeeping, Taxes|

Whether you are a full-time investor or weekend landlord, your landlord vehicle expenses will often be one of the largest expenses you will have each year to offset your investing income for tax purposes.  The IRS gives the taxpayer 2 options - itemize each individual vehicle expense (fuel, oil changes, repairs and maintenance, etc.) or elect to [...]