Every Landlord's Tax Deduction Guide Fourteenth Edition

Pros: clear structure, easy to read.Cons: I browsed about 8 chapters and found two errors. 1. Header for chapter 7 should be "The Pass-through Tax Deduction" instead of "Interest". 2. Chapter 8, page 207, first paragraph, it says "Points are de minimis if they are less than .0025%" . I checked IRS Publication 527, the correct number is one fourth of 1% which is 0.0025.IMO, There should be better editing since this is a tax book which readers use as reference.Another issue is the book does not provide good cross-reference. Such as the last sentence of the first paragraph on page 218, it says " travel expenses would have had to add to the basis of the property and depreciate them over 27.5 years. (See chapter 5) Based on my knowledge, if travel expense is not start-up costs, it should not be deductible nor capitalized. I went back to Chapter 5, read twice, but could not find related discussion. Cross reference for technical detail like this should at least indicate the line number and the page number.

This book was well written and organized, it explained things in an easy to read manner. Most of all it taught me so much. I purchased my first single-family rental and spent a great deal on repairs in order to get it available for lease. I have always done my own accounting using Quickbooks as well as Quicken but I had so many tax questions. When I sought out a CPA I was told that it would cost me $200 per hour for questions, or $500 to $1500 to do my taxes. Ouch! This book is very complex but it is also very detailed and uses examples which help a lot. I can see now why CPA's get paid so well as there is a lot to learn. I feel so much more confident now as I go forward, so many questions have been answered. Thanks for a great tax book on rentals!

As a small landlord, I'm always looking for helpful and practical advice, particularly if it helps with taxes, expenses or property management. I had planned to share this review before April 15, in the hope that it would prove helpful to other small landlords. Unfortunately, as it got closer to April 15, I ran out of time!So for those of you who did get extensions or are looking into help for the next tax season, I'm hoping that you'll have time to read Every Landlord's Tax Deduction Guide.I've been summarizing particularly helpful chapters for myself and my partners. But it's the sort of book that's helpful to read through once and keep on hand as specific incidents occur.Every Landlord's Tax Deduction Guide is divided into 20 chapters. The Guide begins with an explanation of how landlords are taxed and list which taxes specifically apply to landlord investors and those that actively manage their properties ("business owner"). The guide then discusses the requirements that must be met before operating expenses can be considered deductible and a discussion of the operating expenses that are not deductible. The next chapters discuss how the IRS treats repairs to the property and compares their tax treatment to that of improvements to the property. Subsequent chapters discuss in detail the more complicated deduction of depreciation, interest, start-up expenses, travel expenses, car and transportation expenses, labor expenses (differentiating between employees and independent contractors), as well as casualty and theft losses. What I particularly appreciated about the Guide is that it flags the IRS forms and publications that are relevant to specific complicated situations, such that I know what to research and I need to file when specific situations occur.Also much appreciated are the chapters on record keeping and accounting as well as the final chapter which covers information from the IRS and various online resources.Every Landlord's Tax Deduction Guide is well worth the $35 that I'd paid for it. I am encouraging my landlord friends to get copies for themselves.ISBN-10: 1413319270 - Paperback $35Publisher: NOLO; Tenth Edition edition (November 29, 2013), 536 pages.

The IRS doesn't usually give a reason for a given procedure. The reasoning behind some things may not always be obvious. With NOLO Every Landlords's Tax Deduction Guide, they are helpful, and on our side. It is more readable and lots more informative. If you look at Chapter 5 on depreciation the second paragraph with states "Depreciation: The Landlord's Best Tax Break." I have successfully used an old 7th Edition for 5 years now. and decided with the especially new tax law changes it behooves me to upgrade to the 15th Edition.

Like every one else I bought this book to learn about deductions. Hands down , it is the BEST MONEY I HAVE SPENT in a very long time. I have not even bought my first investment property yet and already it has saved me 1000's in mistake I WOULD have made! The impression I have had from all these investment gurus has been DEAD WRONG! BUY IT! READ IT! SAVE A FORTUNE in legitimate tax deductions! The author goes in to detail explaining things in a very easy to understand way using examples to show the difference s in more complex tax situations. yes, getting a tax person for complex issues as a definite team member i will be adding, but for the simple start years I figure I can do most of the work my self saving cash on my accountants time. For future years I already will be in the habits and position I will need to take advantage of the laws to gain exemptions the gurus never mentioned!

I will admit, I have not finished this yet and will update when done, so far this is a great book, easy to understand and read. I have read the first 6 chapters and some important ones at the end starting with Chp15.The book is straight forward tax information, no "you can do it" motivation or "how to be a landlord" sections. Just the tax ma'am.Very well organized. Each chapter concentrates on a subject, like "Landlord Tax Classifications" and "Repairs". It describes the basics and the subtleties and then presents real world tax rulings that help clarify the regulations.I recommend this to every landlord, even if you have an accountant. Buy it and deduct it as a business expense! (as the book says)

Did not think to look that this was for American taxes. Waste of money ordering as it cost me to return