Property Management Software!

How to Deduct Expenses When Traveling Away From Home... You can deduct the expense of traveling away from home if the primary purpose of your trip was for business - like collecting rental income, managing your real estate investments, or maintaining your rental property. Overnight Travel? You c...

Can I deduct Life or Health Insurance Payments on my Taxes? If you own rental property, you may be able to deduct life and health insurance payments on your taxes. What? Costs to insure rental property are deductible... Huh? Depending on how you structure your rental business, you may be able to...

The Best Way to Market to Real Estate Investors! The Inman Conference in San Francisco was a wonderful event. One of the greatest things was being able to interact with other fellow ActiveRainers in person (Mike Mueller,  Tina Merrit, and Mara Hawk just to name a few, but that's another story). ...

No Loss Limit for Real Estate Professionals and Spouses? Real Estate Investors qualify as "real estate professionals" if they spend at least 750 hours per year on their investment activities. A real estate sales license is not required and either spouse can qualify. Real estate brokers, realty s...

Is it Better to Use Actual Expenses or the Standard Rate? You can deduct vehicle costs on your taxes using actual vehicle expenses or the standard mileage rate. Actual Expenses: Standard Rate: -Collect Receipts -Write-Off Expenses that are Deductible -Log Mileage -Deduct using Standard Mileage r...

Is it Better to Give a Gift or Entertain??? Most expenses are deductible as long as they are ordinary and necessary for your business. You can deduct up to 50% of entertainment costs, or gift costs up to $25 each. Entertainment: Gifts: Deduct up to 50% Deduct up to $25 Generally, an item that is...

Ever Considered Selling Property To Yourself??? Selling property to your own S-Corporation can be beneficial in TWO specific situations. 1.) You do not meet the requirements for excluding capital gains on the sale of your primary home2.) You can not take advantage of depreciation on appreciated ...

You should hire someone (like a family member) to do your work and write off the cost of labor, since you cannot deduct the cost of your own labor. For Example: if you paint your rental property or install a lock using your own labor instead of hiring a painter or a locksmith, you cannot deduct ...

Have you ever had to deal with a CASUALTY LOSS? Here's why I ask: Losses incurred because of a casualty, disaster, or theft can be tax-deductible. These losses may be limited, but they are certainly deductible. For Example: Your tenant runs their car through the garage door Even though you haven...

Summer is coming around, I'm starting to plan my next vacation... ...and I am going to share a little secret. You might have tried all the tricks in the book, but I'm sure you haven't tried making your VACATION TAX DEDUCTIBLE. For example, you fly with your spouse (aka your business partner) to ...