Current expenses are $1300 per month (water, sewer/septic, taxes (property and 10 homes) and insurance (liability and homes).   

Some things to consider are: if minor maintenance is included, if they file the occupancy tax on the owners behalf, if they hire the cleaning service and if they "eat" the credit card fees or pass them onto the owner.

However, like other tax rules each situation is unique to each individual and there are regulations that must be followed for the deduction to be applicable.What is an Investment Interest Expense?

"Just try NOT paying your property taxes, you'll find out real fast who really owns your property".

I know it is logical to think you could deduct half of the shared common space, but unfortunately the tax law wasn't written to allow that.  

Hello tax experts, I have specific question on filing taxes for Short term rental property (30 days or less).

I've talked to one lawyer who looked over the title and taxes documents and said it's clear, but I don't fully understand what that means.

All commercial loans will now have new covenants if borrowers do not provide timely personal financial statements, personal tax returns, business tax returns, rent rolls (if applicable) timely.Personal financial statements and rent rolls (if applicable) are due within 60 days of the expiration date of the personal financial statement.

So many are misinformed on what S8 does and how it does it.It's our tax dollars, so S8 is NOT looking to place low-income tenants (S8) in Class A properties.

After they pay rent and taxes they have about $1,500 or $388 a week for everything else.