If you own commercial property, you’ve got to love the “Protecting Americans From Tax Hikes (PATH) Act” that’s now the law. Why? Because, thanks to the PATH Act, qualified leasehold improvements to your commercial property can deliver three huge tax-deduction-acceleration breaks through 2019! Want to find how to put this extremely helpful new law to work for you? Read my … [Read more...]
Rental Properties
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How to handle a failed rental-property purchase
If you’re planning on buying a rental property, we hope all goes well and you come out a winner. But what happens if the deal falls through and you lose your deposit, inspection fees, travel costs, etc.? The answer is, Uncle Sam is there to help. That’s right. The law says you can deduct your losses if you follow the IRS’s rules. Want to learn how the tax law can come to … [Read more...]
Increase your office depreciation rate by 42%
They say the key to success in real estate is “location, location, location.” But location is also important when it comes to your office. If your office is in your single-family home, you have to depreciate that office using the 39-year depreciation method. But if you locate your home office (or other office) in a duplex or apartment building you own, you might qualify … [Read more...]
Avoid the Big Triple-Tax Whammy When Renting to Relatives
Who would you rather rent to? A relative you know well and trust, or a total stranger who may wind up trashing your property? The answer’s obvious, but if you rent to a relative you have to be careful. You see, the IRS insists that you comply with strict fair-rent regulations and rules concerning your relative’s use of your property. Break the law and you could lose all … [Read more...]
Sell Your Home to Your S Corporation and Then Make It Your Rental Property
Are you thinking of moving to a new home? Then I have good news for you … You see, your current home might make a great rental property which could create tax-free income for you plus you could form a new S corporation that would give you a step-up in the depreciable basis for the rental house. Want to find out more? Easy. Read my new article titled Tax Tips: Sell Home to S … [Read more...]