Depreciation Basics

Depreciation Basics

Don’t you love depreciation? Depreciation is easily one of my favorite benefits of real estate investing, but it is often misunderstood. Basically, depreciation is the tax benefit that the IRS allows for “wear and tear” of investment property. The...
Tax Reporting For Tenants In Common

Tax Reporting For Tenants In Common

What happens when you co-own a rental property with some else? If the title to the property is in two individual names, this is known as tenants in common. In this scenario, the owners must agree upon a profit/loss split. The respective amounts will then be listed on...
Tax Deductions for Short Term Rental Properties

Tax Deductions for Short Term Rental Properties

When you rent out a property, you must report the rent as income, and the IRS will assess tax on the amount you earn. However, you can deduct expenses from the rent to help lower your taxable income. This process is pretty straightforward when the property is strictly...
8 Tips To Reduce Tax Season Stress

8 Tips To Reduce Tax Season Stress

It’s that time of the year again when we need to start filing our taxes. Instead of procrastinating or stressing about the hassle of tax time, here are some tips to keep things as easy and painless as possible this year. They are designed to help you stay on top...
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