Book Review: Landlord’s Tax Deduction Guide

Ok so I know tax deductions are not that exciting to talk about but I know we all would prefer to have more cash in our checking accounts at the end of the year. The great news is there are lots of ways real estate investment properties can provide tax deductions. The bad news is the rules change every year so when this book arrived on my desk last week I was actually very excited. Every Landlord’s Tax Deduction Guide by Nolo Press. This 9th edition just came out this year and is over 500 pages! Did you know there are...

PPD = Pain Per Dollar – Watch Out for the Tax Man!

A few years back a CHBO property owner told us that she was switching from renting her property as a vacation rental to renting her property as a corporate housing rental.  We asked her why and she said “PPD.” The CHBO Property Specialist ask her to explain.  PPD she told us was, “Pain Per Dollar.” She wanted to make money with her rental property but trying to fix and flip her property nightly and weekly was just too much work.  She was excited to get Corporate Rents who paid good rates but also stayed longer. According to the 2012...

Mileage Counts When Doing Your Rental Property or Business Travel Taxes

Corporate Housing Landlords: Did you know that you can deduct mileage when traveling to and from your rental property and when doing errands in relation to your property? Business Travelers (Tenants of Corporate Housing): Same for you, you can deduct mileage when traveling for business and when driving to and from your corporate rental. Good news – for 2012, the mileage standards have increased. Beginning on Jan. 1, 2012, the IRS says the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is 55.5 cents per mile for business miles driven. The rate for...