Cost segregation is a process which involves separating personal property assets from real property assets for the purpose of shortening the time of depreciation and reducing tax liability. In a cost segregation study, assets are classed together according to their depreciation period. Cost
The Tax Benefits of Real Estate Ownership
Most people -- even those among the so-called millennial generation -- would like to own property at some point in their lives. Since it relates to both our drive for prosperity as well as our abundance of space, there is something about real estate ownership which gives off a thoroughly American
Reasons Why Your Property Taxes May Have Increased
If you own a home or commercial property, you will notice that your property tax amount changes from year to year. No matter where you are located, there exists always a possibility that your property tax will increase. Here are some reasons why your property taxes may vary annually. Increase in
Tax Deductible Rental Property Expenses, Part 4: Landscaping, Hired Help, HOA Fees
In order for your rental property to be attractive to prospective renters, it should be found in good and presentable order. These expenses can be deducted against the income received from this property provided they meet the business use requirements. Let’s look at landscaping, hired help, and HOA
Tax Deductible Rental Loss
One thing we learned about investing in real estate over the last few years is that it can be quite volatile at times and requires sufficient capital and planning to be successful. Rental properties are traditionally long term investments and losses may occur during the holding period. Investors
Tax Deductible Rental Property Expenses, Part 3: Supplies, Taxes, Utilities
As a Landlord, you may incur certain expenses during the course of business that have some significant impact on your profitability. Among these are supplies, taxes, and utilities, which are generated from the property from which you are receiving income. As with other business expenses, you must
Tax Credits for Landlords
This particular article of the Landlord's Tax Guide focuses on the different types of tax credits available to landlords who rent out their property. A tax credit is better than a deduction because it is a one-for-one reduction of tax owed, while a deduction simply reduces the total amount of income
Private Use of Rental Property
The guidelines associated with the personal and leasing utilization of premises are included in this article in the Rental Property Tax Guide. This may be either because you are leasing out a space in the same property which you are living in, or you have got a vacation residence that you might
