Schedule E - Mastering Rental Property Taxes
Full Product Description:
Master Rental Property Tax Deductions and Depreciation!
In this training, you will learn about the various tax rules and deductions that apply to rental properties and how to maximize your tax savings. This course will cover essential concepts such as property tax deductions, rental income, and how to allocate costs associated with rental property ownership. You will also learn how rental property owners can recover the cost of their property through depreciation and the impact it has on your tax filings.
The course will explore the different types of allowable deductions, such as expenses for repairs, maintenance, insurance, property management fees, and mortgage interest. You’ll also dive into the process of calculating and claiming depreciation for your rental property, which allows you to recover the cost of the property over its useful life.
You’ll gain a clear understanding of the depreciation period, also known as the recovery period, and how it affects your tax returns. The training will also explain how to determine the depreciable cost, which is the original cost of the property minus its estimated residual (salvage) value. In addition, you’ll learn about various depreciation methods and conventions used in rental property tax filings.
By the end of this course, you will understand how to navigate rental property taxes and how to apply deductions and depreciation effectively to reduce your taxable income.
This immersive training enables you to:
- Tax Rules & Deductions: Master the rules and available deductions to maximize tax savings.
- Essential Tax Concepts: Cover property tax deductions, rental income reporting, and proper cost allocation.
- Allowable Expenses: Claim key deductions, including repairs, maintenance, insurance, management fees, and mortgage interest.
- Depreciation Fundamentals: Use depreciation to recover the cost of your property over its useful life.
- Calculating Depreciation: Master the process of determining depreciable cost, recovery period, and applying methods and conventions.
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Reduce Taxable Income: Apply deductions and depreciation strategies effectively to minimize overall taxable income.
What’s Included in Your Package:
- Full Video Course
- Understanding Schedule E: Workbook
- Understanding Schedule E: Rental Income Royalties, Partnerships, S-Corps and Trusts
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