Personal Income Tax

Get the Most Out of Your Rental Property Deduction Claims

Owning a rental property can be an excellent source of primary or secondary income, but the taxes involved in this business can be steep. For that reason, many people look for any possible deductions from their rental property, but the literature out there can be contradictory and difficult to follow. Below are some of basic guidelines for claiming rental property expenses when tax time rolls around.

Can I Claim Home to Work Travel as a Deduction?

Can I Claim Home to Work Travel as a Deduction?

Can I Claim Home to Work Travel As a Deduction? It seems that everyone is looking for ways to find those extra few deduction dollars these days, and one of the most popular places where people look for opportunities is in their travel expenses. Now, as travel expenses can be quite costly, given the price of gas these days, it is natural to try and claim back some of those travel expenses between home and work. However, there are quite a few details you should be aware of before you start claiming deductions to make sure that you stay on the right side of the law.

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02
Feb2015

Welcome to my blog

Welcome to my blog

02
Nov2016

Qualifications

Recently somebody asked me how many qualifications and post nominals I had. I replied that I don’t know – I’ve lost trac...

02
Nov2016

Ben, Have you invented any new words lately?

A correspondent has asked if I have invented any new words. Indeed I have. Procreastation: The tendency to put off doing...

02
Nov2016

Ben, what is the greatest waste of taxpayers money?

Thank you for asking this important question. The greatest waste of taxpayers money in history is without doubt the new...

02
Nov2016

Ben, What is the Mac tax? Is it federal or state?

Thank you for that interesting question. The Mac tax is a tax that is imposed neither by the federal nor the state gover...