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4 April 2024 | 42 replies
If so, how can I minimize the rebate I give them - if the rent is say $5000, do I say fridge is $100 and dryer is $150 so ok you can deduct say $(250) * 2weeks/1month = $125. or do I say ok send me your bill for food and laundromat and you can deduct that full amount (that will be expensive I guess).If I'm not liable how do I reply that doesn't have ramifications.
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3 April 2024 | 19 replies
The bonus here is you can write off the milage (if you deduct by the mileage method) for your travel to pick up your mail.
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2 April 2024 | 2 replies
They never told me about this fee and won't release my deposit until I sign the release form woth deducts the 400 from mt deposit.
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2 April 2024 | 7 replies
It's not a meaningful number you'd ever want to share because income taxes are not deducted from the way properties are generally marketed and this will make your numbers look lower.If you wanted to calculate income net of income taxes at the property level you'd have to first take the net income for the property from Schedule E and divide it by the total income.
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2 April 2024 | 2 replies
You may want to speak with a real estate attorney as you may be able to deduct the higher than normal water charges from your rent payments - if you documented everything correctly.
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2 April 2024 | 3 replies
She also likes it a lot at tax time when those deductions come around.
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2 April 2024 | 5 replies
My understanding is that so long as they confirm that they're moved out and give me the keys, I'm well within my rights to just have a junk remover / trash company take whatever was not there to begin with, and deduct that from the security deposit?
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30 March 2024 | 3 replies
I was told that I could only depreciate 8.6% (square footage percent of the upper unit) and only deduct repairs done to the rented room alone.
30 March 2024 | 0 replies
This is achieved because the IRS allows deductions for interest paid on investments when the money is borrowed to do so.
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1 April 2024 | 10 replies
Red flag to IRS if you try to deduct the taxes and insurance on the LLC tax return.