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Every Landlord's Tax Deduction Guide (repost)

Posted By: libr
Every Landlord's Tax Deduction Guide (repost)

Every Landlord's Tax Deduction Guide By Stephen Fishman J.D.
English | 2008-12-08 | 528 Pages | ISBN: 1413309062 | PDF | 4,1 MB

The only book on tax deductions specifically for residential landlords!
Named a "Top 10 Real Estate Book" by Robert Bruss, syndicated real estate columnist
If you own rental property, you should be taking advantage of the many tax write-offs available.
Every Landlord's Tax Deduction Guide gives residential landlords the plain-English guide they need to save money on taxes – without the services of a pricey accounting firm.

This book explains how to maximize your deductions without drawing the ire of the IRS. Find out how to:

fill out IRS Schedule E take real estate tax credits figure out if an expense is a repair (deductible) or an improvement (depreciable) maximize your depreciation deductions deduct losses arising from real estate ownership keep proper tax records deduct home office, travel, and casualty losses Every Landlord's Tax Deduction Guide is comprehensive yet easy to read and provides interesting real-world examples. The 5th edition is completely updated for 2008 returns and reflects the latest tax information and numbers.Summary: New Land Lords Read this FirstRating: 4I think that every new/potentail landlord should get this book and read it first before you invest and start to work on a house. There are some major decisions you need to think about and make for tax purposes and it is best to know ahead of time. It has been very helpful to me.Summary: You cannot afford not to be knowledgeable about this topicRating: 5The topic of taxes may not be as popular as learning about the next hot investment strategy that can make you an instant millionaire, but whether you like it or not, this topic is important. Even if your accountant does all your taxes, it doesn't hurt to understand it. I cannot tell you how much the knowledge of taxes saved me. I don't have to pay an accountant. If you understand it, you don't have to do it yourself - you can train your employees to do it. It still costs a lot less to have them do it than your accountant who will charge you over $100 per hour. But in addition to that, you will be able to save money on taxes. The author teaches you how to deduct as much as legally possibly from your rental income to show as little taxable income as possible. It is not uncommon for landlords to show negative taxable income (meaning you pay no taxes on it), and still have positive cash flow. The secret is depreciation, which is a noncash expense. I think that if you own real estate, you cannot afford not to be knowledgeable about this topic. - Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock marketSummary: Excellent BookRating: 5This is one of the best, well written, informative, and easy to read books that I've come across yet.Summary: Every Landlord's tax Reduction GuideRating: 4I like the way the author wrote in a clear organized style. I found it much easier to understand then I had imagined. It is very comprehensive. JimSummary: Great bookRating: 5I needed a book to give me very detailed information on the tax deductions a landlord could take. I am thinking of turning my second home into rental property and I wasn't sure of the tax advantages. I found this book and it was very informative. I couldn't put it down and read the entire book in two days. Then, I went back and read the important parts again. After reading the book I feel like an expert on the subject. The book tells you how to keep records, figure out your basis, etc without having to refer to the numerous booklets the IRS provides the taxpayers. Definitely worth the money.