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Best Practices Archives

Exploring Seasonal Rental Income: Put Your Vacation Home to Work

Vacation homes make fantastic seasonal rentals, and the IRS even offers tax breaks to property owners who meet certain requirements. Let’s talk about seasonal rentals, the pros and cons of short-term rentals, and the tax implications that come from renting out your vacation home.

Calculating Your Home Office Deduction

The home office deduction can be complicated, and questions are understandable. What can you include in the deduction? How do you calculate it? Where do you report it? Today we’ll cover the dos and don’ts of the home office deduction so you’ll be ready to file in time for tax day.

Can Rental Property Businesses Take a Home Office Deduction?

Whether or not you can take a home office deduction for your rental property is not an easy question! To help you navigate this gray area, we’ve put together a review of the home office deduction and the questions surrounding it. Why is there a debate? Who qualifies for the deduction? Is taking the deduction worth it? We’ll cover all those and more.

Small-Scale Property Managers: Right for Your Rental?

As a real estate investor, you may wonder if hiring a property manager is right for you and your rental business. Each situation is unique, so let’s discuss what property managers do, types of property managers, and the pros, cons, and fees associated with management companies.