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Dear Fellow Landlord,
In this newsletter:
Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month!
Being a landlord is hard. You know what’s harder? Tracking your rental property finances for tax time. Hurdlr’s Accountant-in-Residence (AIR), Matt Briefer, CPA, has written an in depth, 21 page quick tax guide to help you get your taxes done. To give you a preview of what’s in the guide, here’s a tax checklist you can use to ensure you have the right landlord-related information for your tax software or tax preparer: Landlords Quick Tax Checklist❏ Calculate the number of days each month that you used your property for personal use and for rental use. This will determine the tax treatment of your rental and help you calculate your deductions.❏ Add up your total operating costs (utilities, insurance, food for guests, etc.) you incurred each month during the year s o you can calculate your deductions. If you took our advice on keeping information in real time, this should already be done! ❏ If you own your home, add up your total “homeowner” costs (mortgage interest, real estate taxes, etc.) you incurred each month during the year so you can calculate your rental deductions. If available, use supporting documents like the 1098 you received from your mortgage lender to make this step a breeze. ❏ Tally your assets. To the extent not detailed on your balance sheet, compile a list of the improvements you made to your rental property during the year, and make sure to include the price of improvements and dates put in use. ❏ Gather your property information (address, type). Make sure you have the information about your property that you will need if you are required to complete Schedule E, including the physical address of each property you rent and the property type (single family residence, multi-family residence, short-term rental, etc.) of each rental. ❏ Hold on to that 1099 from Airbnb (or VRBO, HomeAway); you’ll need it so you know how much income to report on your Schedule C or Schedule E ... "Why Everyone Should be Investing in Mobile Homes!"I had the pleasure of meeting Paul Brazie in Fort Myers at our "Landlord Protection Agency - Collect Back Rent Mini- Convention" in March 2015. Besides being a great guy, he also had something exciting to share with us. His presentation opened our eyes to the many possibilities of investing in Mobile Homes and how easy and inexpensive it is to do it. I think you'll find this fun and interesting! More importantly, you now have another way to make money!
( I think you're gonna like this!)
 (Ask the Attorney with John Reno is a Free Feature for LPA members!)
Dear Mr. Reno: A: "Yes you can," as Obama would say. When you appear, you can make a verbal amendment to your eviction petition adding charges that have accrued since you filed. (At least, in most courts we can!) If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
Here's the Quick Check Reports Pricelist Here's the Tenant Reporting Page. (Look for Option #1) |
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