If you own rental property, classifying it as a trade or business can have an impact on the tax breaks for rental real estate.
Tax Breaks for Rental Real Estate
Tag: safe harbor
Defined Benefit Plans: Which one is Right for your Business?
If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees.
Rental Real Estate: Determining if a Property is a Business or an Investment
If you own rental real estate, its classification as a trade or business rather than an investment can have a big impact on your tax bill.
Repairing or Improving your Business Property can Provide Tax Deductions
Business owners may think that, if they repair a piece of tangible property, they’ll qualify for an immediate tax deduction. But the IRS may define that “repair” as an “improvement,” and require the costs to be depreciated over a much longer period.