When you own rental property, depreciation is your best friend. One reason depreciation is so valuable is that, unlike deductible rental property expenses such as interest and maintenance, you get to claim depreciation year after year without having to pay anything beyond your original investment in the property.
Here’s a look at how to apply the $250,000 ($500,000, if married) principal residence tax break when getting married or divorced, or when converting another property into your home.
We’ve always got your back, so today we’d like to share with you our top ten strategies for S Corps! But BEWARE! These Strategies are high in savings, but not DIY. If you try these on your own, you may do them incorrectly and be stuck with an audit or penalties. Be sure to talk to a professional before implementing them.