Hire Family Members

You should hire someone (like a family member) to do your work and write off the cost of labor, because you cannot deduct the cost of your own labor.

For example, if you paint your rental property or install a lock using your own labor instead of hiring a painter or a locksmith, you cannot deduct any expenses for labor.

However, if you hire a non-owner like your child or possibly your spouse, the costs are deductible against your income because they are considered to be rental expenses.

There’s no catch and it’s A-OK with the IRS. You will have more control over lowering your expenses while still keeping the ability to write them off. Be sure to check out the article I have linked if you want to find out more.

This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Hire Family Members is brought to you by SimplifyEm Pay Rent Online and Property Management Software

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