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Welcome to the AAOA Forum, where we discuss the the topics our members want to hear and want to talk about. We like to take an active roll in the online community to help our members learn and help educate landlords new and old. We encourage you to participate and join in our discussions. Thanks.
Top Tax Tips for Landlords: Part Four
Tip #4: Utilities that Landlord Pays
by Terry Owens
RealTaxTips.com
Utilities paid by the landlord for tenant use are fully deductible, provided that the rental agreement stipulates that the landlord will pay for utilities.
Landlords often incur expenses to light common areas or operate security systems.
Other common expenses include:
- power
-
water
-
gas
-
cable
-
Internet
Any utility costs incurred during a period of vacancy are also fully deductible.
Don’t go overboard though. Deducting large expenses during periods of vacancy can be a reason for the IRS to become suspicious.
For more Tax Tips and Tax Saving Web Tools like DepreciateEm.com and DeferEm.com, check out TReXGlobal.com.
Did you miss these tax tips:
Use Depreciation to Lower Income
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