They lower taxable income for federal taxes but not for FICA.However, employer contributions made by the S-Corp are not subject to FICA and count as a business expense.Make sure your W-2 correctly reports wages, deferrals, and FICA wages.

Appears the guests may have left the faucet "on" when the pipes were frozen and when no water came out, forgot to turn it "off".What may have caused the overflow of the sink is maybe the drain lines were also frozen?

Tenant pays all utils except water.  

I'd personally say pulling your water heater out and replacing with a wall mount on demand one, would be worth the cost to have in unit washer dryer if you are staying there or renting it, it would be worth it.its always worth doing the big stuff well and correct even if you are cleaning up after someone, the long term hold always prevails, its just a little frustrating front sometimes, but hang in there!

Tax free appreciation and rents significantly trump the loss of depreciation and custodial fees.

I was reading up about it, and saw that the cons of oil heating include needing to top up the oil supply, lower efficiency (than gas and electric), and potential leaking of tanks leading to environmental issues.Is anyone familiar with oil heated homes?

The power is either on or it's off.

Tenant said there's another water leak and he thinks that it's coming from the 2nd floor restroom again.

Quote from @Zach Howard: @Ken M.Where and how can I most efficiently learn about subto in full detail?

The property is 2 stories and 1,875 square feet and was constructed in 2024.