Every Landlord's Tax Deduction Guide,   ISBN:9781413310634

Customer Rating: 

I think that every new/potentail landlord should get this book and read it first before you invest and start to work on a house. There are some major decisions you need to think about and make for tax purposes and it is best to know ahead of time.

It has been very helpful to me.

Customer Rating: 

The topic of taxes may not be as popular as learning about the next hot investment strategy that can make you an instant millionaire, but whether you like it or not, this topic is important. Even if your accountant does all your taxes, it doesn't hurt to understand it.

I cannot tell you how much the knowledge of taxes saved me. I don't have to pay an accountant. If you understand it, you don't have to do it yourself - you can train your employees to do it. It still costs a lot less to have them do it than your accountant who will charge you over $100 per hour. But in addition to that, you will be able to save money on taxes. The author teaches you how to deduct as much as legally possibly from your rental income to show as little taxable income as possible. It is not uncommon for landlords to show negative taxable income (meaning you pay no taxes on it), and still have positive cash flow. The secret is depreciation, which is a noncash expense. I think that if you own real estate, you cannot afford not to be knowledgeable about this topic.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

Customer Rating: 

This is one of the best, well written, informative, and easy to read books that I've come across yet.

Customer Rating: 

I like the way the author wrote in a clear organized style. I found it much easier to understand then I had imagined. It is very comprehensive.

Jim

Customer Rating: 

I needed a book to give me very detailed information on the tax deductions a landlord could take. I am thinking of turning my second home into rental property and I wasn't sure of the tax advantages. I found this book and it was very informative. I couldn't put it down and read the entire book in two days. Then, I went back and read the important parts again. After reading the book I feel like an expert on the subject. The book tells you how to keep records, figure out your basis, etc without having to refer to the numerous booklets the IRS provides the taxpayers. Definitely worth the money.