PMI Atlanta City’s Post

Accurate records for each transaction help you track expenses, stay organized, and make tax time much easier. Good documentation is key to managing your rental properties effectively! #propertymanagementtips #propertymanagement101 #landlordtips

Accurate records for each transaction help you track expenses, stay organized, and make tax time much easier. Good documentation is key to managing your rental properties effectively! #propertymanagementtips #propertymanagement101 #landlordtips

Accurate records for each transaction help you track expenses, stay organized, and make tax time much easier. Good documentation is key to managing your rental properties effectively! #propertymanagementtips #propertymanagement101 #landlordtips

Accurate records for each transaction help you track expenses, stay organized, and make tax time much easier. Good documentation is key to managing your rental properties effectively! #propertymanagementtips #propertymanagement101 #landlordtips

Accurate records for each transaction help you track expenses, stay organized, and make tax time much easier. Good documentation is key to managing your rental properties effectively! #propertymanagementtips #propertymanagement101 #landlordtips

If you’re looking to treat your rental property more like a business, there are ways to do it: 1️⃣ Offer substantial services, such as daily turndown or concierge. 2️⃣ Report your income and losses on Schedule C to offset earned income. While this approach can provide tax benefits, it also increases operating costs. Be sure to consider both sides before making the switch. #RealEstateTax #BusinessPlanning #TaxStrategy #ShortTermRentals

Learn how to reduce your tax bill and optimise your rental income. Claim expenses during vacant periods and consider short-term lets for higher profits and flexibility. Avoid the drawbacks of long-term leases and make the most of your property. For more tips and advice, get in touch with us today!  #LandlordTips #ShortTermLets #PropertyIncome

𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐢𝐧𝐠 𝐒𝐞𝐥𝐥𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐑𝐞𝐧𝐭𝐚𝐥 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲? 🚪💸 In this article, we discuss some of the drawbacks of selling your rental property. We cover the following: 𝐔𝐧𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐂𝐨𝐬𝐭𝐬 🏠💰: Discover hidden expenses that could surprise you. 𝐓𝐚𝐱 𝐈𝐦𝐩𝐚𝐜𝐭 💼📉: Learn how selling can affect your tax obligations. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐝𝐢𝐭𝐢𝐨𝐧𝐬 📊🔍: Find out why the timing might not be ideal. 𝐓𝐞𝐧𝐚𝐧𝐭 𝐈𝐬𝐬𝐮𝐞𝐬 🏢👥: Understand the complexities of selling with tenants in place. 𝐅𝐮𝐭𝐮𝐫𝐞 𝐆𝐚𝐢𝐧𝐬 📈💡: Explore the long-term benefits of holding onto your rental property. For a deeper dive into these points, read the full article here: https://lnkd.in/eXRUkksV #rentalproperty #landlordtips #realestateinvesting #realestateadvice #investmentproperty

The key to rental property tax savings: Keep detailed records of everything - rental days, personal use, expenses, travel, and maintenance. What you track, you can deduct.

The key to rental property tax savings: Keep detailed records of everything - rental days, personal use, expenses, travel, and maintenance. What you track, you can deduct.