There is a unique tax deduction in the US called a “conservation easement.”It was designed by the IRS to encourage real estate owners to make pristine land, that could be enjoyed by the public, a conservation ground, and thus un-developable.In return, the landowner could treat the act of granting a “conservation easement” as tax-deductible.

Hold the bill until they move out, then deduct the cost from their deposit; or2.

Net income would be the Host Payout of $541.26.But your true net is what's left over after deducting all expenses not accounted for in this calculation, such as utilities, internet, consumables, etc.

I think working with an insurance broker is a great way to go to derive the most competitive quote at no cost to you.I also think that you can increase your deductible up to say 5k as well as request your tenants carry renters insurance.

Will they lose their ability to deduct bonus depreciation against their regular 9-5 income for all future years?

(Source: Gordon James Realty https://www.gordonjamesrealty.com/resources/knowledge-hub/be...)2.Tax Benefits: Leasing to your LLC allows you to charge rent, creating deductible business expenses.

Since you will not be renting the unit the entire year, I believe this will affect your taxes by reducing your deductions.

I don't think you can claim home office deduction for W2 income.

So he paid you nothing and he gets the tax deduction for charitable giving, which makes him look like a saint.You could have pressed the criminal charges.

Even with the deductible I was still out $15-20K all in - water gets everywhere and destroys/damages everything along the way.