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Every Landlord's Tax Deduction Guide - 22nd Edition by Stephen Fishman (Paperback)
About this item
Highlights
- Maximize your tax deductionsRental real estate provides more tax breaks than almost any other investment.
- Author(s): Stephen Fishman
- 480 Pages
- Business + Money Management, Real Estate
Description
About the Book
The first, and still the best, book on tax deductions for landlords with residential properties. This book is designed to be reader-friendly for the millions of small landlords who can't afford high-priced tax help. It covers everything from depreciation to deducting rental losses to filing a landlord tax return.
Book Synopsis
Maximize your tax deductions
Rental real estate provides more tax breaks than almost any other investment. Understanding and taking advantage of all the tax breaks available for landlords can make the difference between earning a profit and losing money. But the majority of the nation's millions of landlords own only one or two units and can't afford high-priced tax advice from experts. Every Landlord's Tax Deduction Guide provides landlords with the tax information they need.
This book explains:
- how landlord businesses are legally organized
- how to maximize depreciation deductions
- distinguishing between repairs and improvements
- handling casualty and theft losses
- deducting home office, car travel, and meals
- how to benefit from real estate professional status
- hiring workers
- taking advantage of the 20% pass-through tax deduction
- how to keep proper records, and
- filing the landlord tax form: IRS Schedule E.
This edition has been completely updated to cover all the latest changes in the tax laws affecting rental properties and landlords. Plus, it also provides guidance on recordkeeping and accounting and how to protect yourself from IRS audits. It covers everything from depreciation to deducting rental losses to filing a landlord tax return.
Every Landlord's Tax Deduction Guide is organized into practical, easy-to-understand categories and includes interesting and relevant examples so readers can see how the deductions work and the context in which they come up.
Review Quotes
"This unusual book makes tax tactics actually interesting, whether you are a novice or a serious full-time investor."The Washington Post
"The best of the best...heavily emphasizes maximizing depreciation deductions." Chicago Tribune
"Named a "Top 10 Real Estate Book" by Robert Bruss, syndicated real estate columnist."
"Updated and revised to cover tax rules for Airbnb-type rentals, Every Landlord's Tax Deduction Guide lives up to its title with practical information and invaluable advice. Chapters walk the reader through how to deduct operating expenses, the basics of depreciation, the home office deduction, hiring help, casualty and theft losses, necessary record- keeping systems, and much more. An index and access to publisher Nolo's website filled with useful legal forms, profiles of landlord-tenant and tax lawyers in one's area, and more round out this absolute "must-have" for all real estate owners." The Midwest Book Review, Wisconsin Bookwatch