Posts Taged rental

Mileage Logs

When compiling your tax documents remember that…….yes….the IRS wants you to keep track of the mileage for business, rental, etc use. Here’s what they want (in written form) for your records.  If you get audited they may ask to see it. Which vehicle and for each Date: the address and mileage from place to place […]

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Is This Rental Income?

With sites such as VRBO, Home Away and Airbnb, there has been a rise in the number of residential and vacation rental homes.  If you are considering renting out a vacation home or personal residence, you should be aware of the tax implications.   First determine if the dwelling unit is used as a residence.  […]

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