Questions tagged [rental-property]
Questions around the use of property that is rented to others.
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How to invest $600K in rental or GIC?
we are an older couple in Canada looking to invest $600K to liveoff. We have no other income for tax purposes.
Should we invest in GICs paying 5.5% or rental with a yield of ~2.5% given current gta ...
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Commercial insurance coverage for rental property
I have recently discovered that my insurance company has been charging me for insurance as if my rental property is commercial property, which increases the premium significantly every year. Other ...
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Why does the landlord insurance not cover damage due to an "ongoing water leak"?
I have a property where the tenant has been living for few months. Few months ago, he noticed some water on the groundfloor laundry room, where water heater is also located. He cleaned it and ignored ...
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My boyfriend and I own and live in our own homes as primary home owners. Can I rent him my home and he rent me his and we both have tax write offs
I live and own my own home with a mortgage. My boyfriend lives and owns his own home with a mortgage. We do not live together. Can I theoretically rent his home from him and he rent my home from me as ...
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Should I convert my rental unit into an LLC for tax purposes?
I have a rental unit (condo). I would like to know if it's better to just keep it as a rental unit or put it under an LLC and if the tax implications change?
Currently, it's fully a rental unit (owner ...
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What are the consequences of breaking a lease and leaving the country as non-citizen in Ohio
I have a lease until the end of September 2024 in Ohio. I’m a non-citizen who is going back to his home country in the beginning of May. I might have a cancer and I don’t have an insurance in the U.S ...
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Furnished Holiday Lets - UK Tax - max duration is 30 days, what if two stays during the year?
I have a guest staying in May this year for 30 days in my furnished holiday rental. They want to return again in September for another 30 days.
The Letting Condition in HMRC rules says:
You must let ...
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With 500k in Netherlands, Best path towards regular income, settle mortgage and rent or sell and invest?
Currently I live in Netherlands. I have come to a crossroad and I'm interested to hear other opinions and advice on investment for a regular stable long term income. My ultimate intention is to secure ...
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Are there significant tax benefits in Germany for renting out a newly bought apartment for 1 year before moving into it?
There seem to be big tax benefits of renting a newly bought apartment in Germany rather than staying in it in the first year.
Say, you want to buy an apartment in Bavaria for 300.000€. You have to pay ...
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Rental income taxes
My parents found a home for sale in their area they wanted to buy for rental purposes, but couldn't qualify for the loan. So I took out a loan and purchased it.
They are now renting it out and have ...
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How should I allocate expenses for rental property with mixed personal use where the expenses are only for business use?
I have a house in California, USA, that I offer as a short term rental.
In 2022 it was 95% business use.
In 2023 it was 20% business use.
In 2024 I expect it to be 95% business use again.
I have ...
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Are there overall limits to de minimis safe harbor expenses?
I have a short term rental property in California, USA.
In 2023 I made multiple independent updates such as new appliances, entertainment equipment, furniture.
Each of these are individually invoiced ...
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2
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1
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If property is a rental, does *only* landlord insurance cover me?
Sort of unsure if this should be in law stack or here...
I have seen online that landlord insurance is decidedly different from standard home owners insurance. If my property is a tenant-occupied ...
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Does my Trust Need to File Taxes?
I am the trustee of a irrevocable trust. This trust doesn't earn any money (I think). It was created to own three houses that would have otherwise been in my mother's name. Her health is not great, ...
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Is there a way to file form 1099-NEC or 1099-MISC, in a privacy preserving way? Anonymous W-9?
As a rental property operator I know how to file forms 1099-NEC or 1099-MISC for payments to plumbers, heating companies and vendors. These folks all provide a W-9 on request.
How about for a payment ...
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