Home Equity Loan Interest

Home Equity Loan Interest

Home Equity Loan Interest Responding to many questions received from taxpayers and tax professionals, the IRS said in a recent news release that despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home...
Year-End Tax Strategies for Landlords

Year-End Tax Strategies for Landlords

Year-End Tax Strategies for Landlords Making Rentals Less Complex Uncertainties with our tax laws are causing many small businesses to take a closer look at their tax strategies. For those in the real estate and rental businesses, income tax returns have always been a...
Short Term Rentals

Short Term Rentals

Short Term Rentals Short-Term Rentals Income received for the rental of your home, a room in your home, or a vacation home, must generally be reported on your federal income tax return. Related expenses may have to be divided between rental and personal use. However,...
Tax Guide for Rental Real Estate

Tax Guide for Rental Real Estate

Tax Guide for Rental Real Estate Reap Financial Rewards From Your Real Estate Investments Have you ever pondered the idea of owning rental property?  What could be better than enjoying tax breaks while tenants buy your property for you?  Sadly, there’s a lot...
Personal Use of Rental Property

Personal Use of Rental Property

Personal Use of Rental Property Personal Use of Rental Property — Roommates and Boarders Renting Part of Property If a portion of the property is rented out, and a portion is used for personal purposes, any reasonable method of allocating expenses between personal and...