by CPA | Dec 10, 2021 | Rental Real Estate CPA
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...
by CPA | Nov 24, 2021 | Rental Real Estate CPA
How to Prorate Expenses When You Use a Property Personally and as a Rental In our last blog post, we covered the differences between direct and proratable expenses for people who rent out part of their home or have a vacation home that is mixed personal and rental...
by CPA | Sep 11, 2021 | Rental Real Estate CPA
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...
by CPA | Sep 22, 2020 | Rental Real Estate CPA
The Centers for Disease Control (CDC) has issued a moratorium on residential evictions from September 4, 2020 to December 31, 2020. During these months, landlords around the country cannot legally evict residential tenants for nonpayment, and there is speculation that...
by CPA | Jun 19, 2020 | Real Estate CPA, Rental Real Estate CPA
Owning rental properties can be a lucrative way to make money from the housing market and set yourself up for retirement, but to be successful, you need to pay attention to the numbers. With the right tips, real estate accounting can be relatively simple. Check out...
by CPA | Nov 8, 2018 | Real Estate CPA, Rental Real Estate CPA
More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue Service. The Tax Cuts and Jobs Act (TCJA), the tax reform legislation passed in December 2017, doubled the maximum Child Tax Credit, boosted income...
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