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Top 10 Tax Tips for Rental Properties
Due to the recession, there has been a significant increase in the number of accidental landlords in the US – property owners who have turned properties that they wanted to sell into units that they must rent out. Many of these individuals will be including rental property income and expenses in their tax filing for the first time.
According to a study by the GAO (Government Accountability Office), about 25 percent of rental property owners over report their net income from rental real estate, by overstating rent received or understating expenses or losses. The estimated amount of net income overstated by misreporting rental property owners was $2.1 billion.
Download TODAY the Top 10 Tax Tips for Rental Property, and make sure you’re keeping money in your pockets!
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. 2010 Top 10 Tax Tips for Rental Property is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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