Every Landlord's Tax Deduction Guide

by Stephen Fishman J.D.

Overview

Maximize your tax deductions

Rental real estate provides more tax benefits than almost any other investment. If you own residential rental property, Every Landlord’s Tax Deduction Guide is an indispensable guide, focusing exclusively on IRS rules and deductions for landlords.

This book covers the latest tax laws, including the rules for deducting a net operating loss (NOL) and claiming an NOL refund. Learn about landlord tax classifications, reporting rental income, hiring workers, and depreciation.

Find out how to:

• handle casualty and theft losses
• distinguish between repairs and improvements
• deduct home office, car, travel, and meals
• keep proper tax records—and much more.

Filled with practical advice and real-world examples, Every Landlord’s Tax Deduction Guide will save you money by making sure you owe less to the IRS at tax time.

Stephen Fishman is the author of many Nolo books, including Home Business Tax Deductions, Deduct It!, and Every Airbnb Host’s Tax Guide. He is a two-time recipient of the Independent Book Publishers Association’s Benjamin Franklin Award.

Product Details

ISBN-13:	9781413331394
Publisher:	NOLO
Publication date:	12/26/2023
Edition description:	Twentieth Edition
Pages:	480
Sales rank:	513,649
Product dimensions:	6.90(w) x 8.90(h) x 1.10(d)

About the Author

Stephen Fishman has dedicated his career as an attorney and author to writing useful, authoritative, and recognized guides on business, taxation, and intellectual property matters for small businesses, entrepreneurs, independent contractors, and freelancers. He is the author of 20 books and hundreds of articles, and has been quoted in The New York Times, Wall Street Journal, Chicago Tribune, and many other publications. Among his books are Every Landlord’s Tax Deduction Guide, Deduct It! Lower Your Small Business Taxes, and Working for Yourself: Law & Taxes for Independent Contractors, Freelancers & Gig Workers of All Types, published by Nolo. He is a two-time recipient of the Independent Book Publishers Association’s Benjamin Franklin Award.

Table of Contents

1. Tax Deduction Basics for Landlords 2. Landlord Tax Classifications 3. Deducting Your Operating Expenses 4. Repairs 5. Depreciation Basics 6. Maximizing Your Depreciation Deductions 7. Interest 8. Start-Up Expenses 9. The Home Office Deduction 10. Car and Local Transportation Expenses 11. Travel Expenses 12. Hiring Help 13. Casualty and Theft Losses 14. Additional Deductions 15. Vacation Homes 16. Deducting Rental Losses 17. Record Keeping and Accounting 18. All About Schedule E 19. The Net Investment Income Tax Index

Editorial Reviews

"This unusual book makes tax tactics actually interesting, whether you are a novice or a serious full-time investor."The Washington Post

"The best of the best...heavily emphasizes maximizing depreciation deductions." Chicago Tribune

"Named a "Top 10 Real Estate Book" by Robert Bruss, syndicated real estate columnist."

"Updated and revised to cover tax rules for Airbnb-type rentals, Every Landlord's Tax Deduction Guide lives up to its title with practical information and invaluable advice. Chapters walk the reader through how to deduct operating expenses, the basics of depreciation, the home office deduction, hiring help, casualty and theft losses, necessary record- keeping systems, and much more. An index and access to publisher Nolo's website filled with useful legal forms, profiles of landlord-tenant and tax lawyers in one's area, and more round out this absolute "must-have" for all real estate owners." The Midwest Book Review, Wisconsin Bookwatch

From the Publisher