Deducting The Right Way: Landlord’s Journal (Deducting The Right Way® | Small Business Series)

by JD Iris K. Palma and EA Williams

Landlords can tap into valuable write-offs when they buy-and-hold rental properties. It's known as losses, but you must meet stringent rules before you can claim it. Do you know them? If you don't, and you claim the deduction, then the IRS can reverse it. You'd lose a valuable tax break, plus face hefty penalties and interest. We've compiled a business checklist that helps streamline your financial tasks. The workbook saves you time, allowing you to focus on other aspects of your operations. Our journal covers how to protect your tax benefit. The pitfalls to avoid when reporting losses on your federal tax return. How to meet the rules based on tax court rulings. Why your daily activities affect your eligibility. The importance of contemporaneous records. Best of all, you get fillable worksheets you can start using right now. Get your copy today to reduce your tax bill.

• Format: Paperback
• Language: English
• ISBN: B08BWGWL3H
• ISBN13: 9798642277461
• Release Date: June 2020
• Publisher: Independently published
• Length: 207 Pages
• Weight: 1.35 lbs.
• Dimensions: 11.0" x 0.5" x 8.5"