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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
American Apartment Owners Association offers discounts on products and services related to your commercial housing investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.
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Posted on Monday, November 3rd, 2008 at 9:04 am and is filed under AAOA Forum. You can follow any responses to this entry through the RSS 2.0 feed.
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