Hire Family Members to Manage Your Properties

Property management fees are fully deductible, so consider hiring someone that you don’t mind paying, like a family member.

Obviously, the expense of your own labor cannot be written off, but that doesn’t mean your spouse or children have to work for free.

By hiring family members, it won’t bother you to pay management fees because the expense is fully deductible, and the money stays within your family

Keep in mind you’ll have to withhold Social Security and Medicare taxes for the income you pay.

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This entry was posted on Tuesday, June 2nd, 2009 at 10:10 am and is filed under Schedule E. You can follow any responses to this entry through the RSS 2.0 feed.