Every Landlord's Tax Deduction Guide
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The only book on tax deductions specifically for residential landlords! Named a "Top 10 Real Estate Book" by Robert Bruss, syndicated real estate columnistIf you own rental property, you should be taking advantage of the many tax write-offs available. Every Landlord's Tax Deduction Guide gives residential landlords the plain-English guide they need to save money on taxes -- without the services of a pricey accounting firm.This book explains how to maximize your deductions without drawing the ire of the IRS. Find out how to:fill out IRS Schedule Etake real estate tax creditsfigure out if an expense is a repair (deductible) or an improvement (depreciable)maximize your depreciation deductionsdeduct losses arising from real estate ownershipkeep proper tax recordsdeduct home office, travel, and casualty lossesEvery Landlord's Tax Deduction Guide is comprehensive yet easy to read and provides interesting real-world examples. The 7th edition is completely updated for 2010 returns and reflects the latest tax information and numbers. The Washington Post This unusual book makes tax tactics actually interesting, whether you are a novice or a serious full-time investor.
1. Tax Deduction Basics for LandlordsHow Landlords Are TaxedHow Income Tax Deductions WorkHow Property Ownership Affects TaxesThe IRS and the Landlord2. Landlord Tax ClassificationsThe Landlord Tax CategoriesBusiness Owner Versus InvestorAre You Profit Motivated?Real Estate Dealers3. Deducting Your Operating ExpensesRequirements for Deducting Operating ExpensesOperating Expenses That Are Not Deductible4. RepairsRepair Versus ImprovementThe General Plan of Improvement Rule: A Trap for the UnwaryHow to Deduct RepairsTips for Maximizing Your Repair Deductions5. Depreciation BasicsDepreciation: The Landlord's Best Tax BreakUnderstanding the BasicsHow to Depreciate BuildingsDepreciating Land ImprovementsDepreciating Personal PropertyWhen You Sell Your PropertyTax Reporting and Record Keeping for Depreciation6. Maximizing Your Depreciation DeductionsDetermining the Value of Your Land and BuildingsSegmented Depreciation7. InterestInterest Landlords Can (and Can't) DeductMortgage InterestOther Interest ExpensesPoints and Prepaid InterestInterest on Construction LoansLoans With Low or No InterestLoans on Rental Property Used for Nonrental PurposesKeeping Track of Borrowed Money8. Start-Up ExpensesWhat Are Start-Up Expenses?Determining Your Business Start DateAvoiding the Start-Up Rule's BiteHow to Deduct Start-Up ExpensesIf Your Business Doesn't Last 15 YearsIf Your Business Never Begins9. The Home Office DeductionQualifying for the Home Office DeductionCalculating the HomeOffice DeductionIRS Reporting RequirementsAudit-Proofing Your Home Office DeductionDeducting an Outside Office10. Car and Local Transportation ExpensesDeductible Local Transportation ExpensesThe Standard Mileage RateThe Actual Expense MethodOther Local Transportation ExpensesReporting Transportation Expenses on Your Tax Return11. Travel ExpensesWhat Are Travel Expenses?Deductible Travel ExpensesHow Much You Can DeductMaximizing Your Travel Deductions12. Hiring HelpDeducting Payments to WorkersEmployees Versus Independent ContractorsTax Rules When Hiring Independent ContractorsTax Rules for EmployeesHiring Your FamilyHiring a Resident Manager13. Casualty and Theft LossesWhat Is a Casualty?Calculating a Casualty Loss DeductionDisaster Area LossesCasualty GainsTax Reporting and Record Keeping for Casualty Losses14. Additional DeductionsDues and SubscriptionsEducation ExpensesGiftsInsurance for Your Rental ActivityLegal and Professional ServicesMeals and EntertainmentTaxesUnpaid Rent15. Vacation HomesThe Vacation Home Tax MorassRegular Rental PropertyTax-Free Vacation HomeVacation Home Used as Rental PropertyVacation Home Used as ResidenceCalculating Personal and Rental UseConverting Your Home to a Rental Property16. Deducting Rental LossesWhat Are Rental Losses?Overview of the Passive Loss RulesThe $25,000 OffsetThe Real Estate Professional ExemptionRental Activities Not Subject to PAL Real Property Rental RulesVacation HomesDeducting Suspended Passive LossesTax Reporting for Passive Rental LossesStrategies for Dealing With the Passive Loss RulesAt-Risk RulesHow to Deduct Rental Losses17. Record Keeping and AccountingRecord Keeping Made SimpleAccounting MethodsTax Years18. All About Schedule EWho Must File Schedule E?Filling Out Schedule ESchedule E Example19. Claiming Tax Deductions for Prior YearsReasons for Amending Your Tax ReturnTime Limits for Filing Amended ReturnsHow to Amend Your ReturnHow the IRS Processes Refund Claims20. Help Beyond This BookSecondary Sources of Tax InformationThe Tax LawConsulting a Tax ProfessionalIndex
