Repairs & Improvements

Repairs & Improvements

by | Oct 2, 2017 | Blog

Repairs & Improvements The cost of repairs to a rental property may be deducted as a current expense. The cost of improvements must be recovered by taking depreciation. Whether an expenditure qualifies as a currently deductible repair, or is required to be...
Rental Income & Expenses

Rental Income & Expenses

by | Sep 26, 2017 | Blog

Rental Income & Expenses Rental Income Rental income includes any payment received for the use or occupancy of property. In addition to normal rent payments, the following items are reported as rental income. Types of Rental Income Description Advance rent  Any...
Audit Proof Your Rental Properties

Audit Proof Your Rental Properties

by | Sep 21, 2017 | Blog

Audit Proof Your Rental Properties Has your rental property come under scrutiny by the IRS? Are they interested in your accounting for your rentals? Have you considered “audit-proofing” your rental properties? You do it to your home when you bring young children in;...