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Accounting Methods for Landlords: Cash-basis or Accrual Method?

Taxes are always a little daunting, but landlords have a heavier lift than the typical tax payer - and it can be especially distressing for new landlords. To help ease the burden of this fiscal responsibility, here are a few things to keep in mind as we approach tax season.

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February 11, 2019
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Winter Yard Maintenance: Top 3 Things on Landlord's List

If you live in the northern half of the United States, it is likely that your current landscaping situation resembles the north pole. You are probably more concerned with shoveling your driveway and cursing the polar vortex than weeding the lawn or trimming trees. However, for those of you in warmer climates, winter is the perfect time to get your rental looking sharp with some landscape maintenance.

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February 07, 2019
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Tax Season Deductions for Landlords: Understanding Passive Activity Laws

Understanding tax implications, especially as a new landlord, can help you strategically approach your taxes. While the real estate rental tax landscape is complicated and easy to gloss over, one important tax law you will want to understand is passive activity loss (PAL). Since most real estate rental income is considered passive income, this law will likely apply to you, and if it does not, you should know why. So let us dive in!

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February 04, 2019
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Why Accepting Rent in Cash is Old School

There are plenty of ways to accept rent payments. Some landlords deal only with cash while others avoid this option, stating that cash rent payments send shivers down their spine. As there is no official cash policy that could regulate cash transactions, some landlords select other methods to accept rent payments. To mitigate the risks inherent with any financial operation, many landlords are switching to digital forms of payment to collect rent payments online and keep track of each transaction.

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January 31, 2019
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The Tax Implications of Becoming a Landlord: Is It Worth the Deal?

Real estate rental investments can yield a high return on investment (ROI), which is why many people look to it as a viable alternative investment. When the right factors converge, like a hot rental market, a good property purchase, landlord business savvy, rentals can be lucrative. One of the most important factors for ROI, though, is the current tax law and the benefits it offers you as a landlord. Let’s dig in to see if the current tax law structure is helping or hindering landlords.

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January 28, 2019
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The Honest Truth - Landlords Talk

Landlord-tenant privilege-of-information is not a thing. Landlords talk to other landlords. Here is a story from a landlord, Sheri, whose rental house needed an especially deep cleaning after her tenants moved out: But you left vomit on my carpet!: an experience with nice but messy tenants.

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January 24, 2019
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Tax Season is Coming Soon: Detailed Guide for Beginner Landlords

Many people approach tax season with some level of trepidation. And for good reason - taxes are complicated! If you're not a tax expert, it can be daunting to dig into the minute details of tax law. Stumbling through all the minor details can make you worried you've missed something. By familiarizing yourself with some landlord tax basics, however, you can decrease your anxiety and feel more prepared at tax time. Here are some key things you’ll want to know.

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January 21, 2019
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Five Tips on How to Deal with Difficult Tenants

If you have no clue how to describe a problem tenant, you’re a lucky landlord. Dealing with difficult renters can be a landlord’s worst nightmare. Bad tenants have been known to do everything from refusing to pay rent on time, damaging appliances and furniture or even conducting criminal activity in the rental. If all these behaviors belong to one and the same tenant, that’s a disaster. But if a tenant was late with the rent one time, it doesn’t automatically mean they’re a terrible renter. Don’t jump the gun. Instead, carefully analyze the circumstances first.

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January 17, 2019
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Can a Landlord Enforce Gun Control?

Gun control is a hot topic and has been for years. The Second Amendment has sparked heated debate on both sides of the issue, the focus usually being what the government will restrict or permit. But what gets left out of the conversation is what private citizens can impose on each other (the Second Amendment is between the government and citizens, not citizen to citizen). In the rental world, the question is can a landlord place limitations on their private property, or does a tenant have the right to bear arms within their rented home?

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January 15, 2019