Re: What are you Labor cost? - Landlord Forum thread 327630

Re: What are you Labor cost? by Stephen (WA - Washington) on November 19, 2014 @15:39

The only reason to charge a tenant for your own labor is because you wish to make a point to the former tenant about the cost of fixing up what they screwed up. Don't get me wrong, I've been there.

Why is charging the tenant not a financial benefit to you? Because your labor charges are income to you and are taxable.

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Re: What are you Labor cost? by Anonymous on November 19, 2014 @16:11	[ Reply ]

Can you please cite the tax code where it says my labor charges are income?

Re: What are you Labor cost? by Rob (Ohio) on November 19, 2014 @16:56	[ Reply ]

Really? The tax code is, if you make money you have to show it as income!

Re: What are you Labor cost? by Bill on November 19, 2014 @16:12	[ Reply ]

Most landlords want to charge for their own work for a number of reasons. One of them is that they do not have the money to hire it done after materials cost has already exceeded the deposit. Most landlords have also been cheated out of rent money that would have ordinarily went to repairs, damages and cleaning. Most landlords do not feel they benefit from charging for their own labor once a tenant has left without paying for a couple of months rent and the cost of repairs have exceeded the deposit amount, If you see the benefit in landlords charging for their own labor, please describe it to those landlords who are taking money out of their own pockets to restore their rentals to livable condition.

Re: What are you Labor cost? by Anonymous on November 19, 2014 @19:12	[ Reply ]

"The only reason to charge a tenant for your own labor is because you wish to make a point to the former tenant about the cost of fixing up what they screwed up". No. Where are you coming from? The charge to the tenant, regardless of who makes the fix is not to make a point. It is to fix a problem made by the tenant and to be compensated for that fix.

Re: What are you Labor cost? by Bill on November 19, 2014 @20:59	[ Reply ]

All the Anonymous posters are tenants. They do not know anything about owning property. They expect to wreck a place and walk off without any responsibilities.

Re: What are you Labor cost? by Bill (MD) on November 19, 2014 @21:17	[ Reply ]

So when you get a new entry door installed on your house by a contractor you only pay for the door, the labor is free!!!! Or when you get a transmission repair done where the part cost maybe 100 bucks but the labor to pull the entire transmission from the vehicle and pull it apart to get to that part is also free!!! Or how about when you go to a psychologist to get your head checked. Hell the psychologist is not using any materials so everything is free!!! Oh wait, I forgot your a section 8 tenant. ObamaCare pays for you medical as well as 90% of your rent......

Re: What are you Labor cost? by Bill on November 19, 2014 @23:12	[ Reply ]

The laws of common sense do not apply to they Anonymous posters. They are drug impaired tenants.

Re: What are you Labor cost? by Stephen (WA - Washington) on November 20, 2014 @17:06	[ Reply ]

Well, I certainly caused a lot of commotion. Rob: You nailed it. If you make money you have to show it as income. Bill (not Bill(MD)): What you are saying tracks exactly with my initial statement. The LL has been somehow damaged by the tenant (lack of rent, damages greater than the deposit, etc) so the LL is looking for a way to increase the amount they are charging the tenant. If the LL has not paid anyone else to do the work then there is no expense to be recouped. Bill (MD): Interesting examples but they miss the mark. I was talking about paying yourself for your own labor; not paying someone else for their labor. If I purchase a part for my transmission and then do all the labor myself, then what is the labor cost? If I buy a new door for my house and install it myself then what is my labor cost. I believe my labor costs would be zero for both examples. If I hire someone to do that work then I need to pay them and that amount would include their labor. If that work is on my rental then I may claim it as an expense. If I take money out of my right pocket and then put it into my left pocket, at the end of the day the total amount of money in my pockets is the same. If I take money out of the envelop that has the tenant's deposit and put it into my pocket to pay myself, then at the end of the day I have more money in my pockets. That increase is taxable.

Re: What are you Labor cost? by Bill on November 20, 2014 @20:06	[ Reply ]

When you charge your labor against the deposit you are not taking if from one pocket and putting it in another. You are taking it from the tenant's pocket and putting it in yours. Geeze...no wonder you guys have a hard time paying the mortgage.