Gates, Kirby & Company, P.C.

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15 Jul

RENTING TO FAMILY MEMBERS

Owners of residential real estate may consider renting their properties to family members. As rents rise in many parts of the country, renting property at a discount to family members may seem like a good way to help relatives in need. But these arrangements can...

08:00 / Buildings / Depreciation / Legal / Taxes

26 Apr

TAX RECORDS: WHAT CAN YOU TOSS AND WHAT SHOULD YOU KEEP?

Generally, the IRS has three years to audit a tax return, from the later of the due date of the return, or the date the return is filed. But many exceptions exist that make it prudent to keep financial records even longer. Some states also...

09:00 / Legal / Taxes

28 Oct

RENTING OUT YOUR VACATION HOME? KNOW THE TAX IMPLICATIONS

What are the tax implications when a taxpayer who owns a vacation home rents it out? The answer depends on various factors, such as the amount of time rented out and the number of days used by the owner. The calculation of taxable income can...

06:00 / Legal / Taxes

14 Aug

IS YOUR PORTFOLIO READY FOR A REIT?

The stock market’s roller coaster ride this year, spurred largely by the COVID-19 crisis, has many people craving stability. One way to potentially steady a portfolio is with real estate. This article looks at real estate investment trusts....

08:00 / Buildings / COVID-19 / Retirement / Taxes

RENTING TO FAMILY MEMBERS

TAX RECORDS: WHAT CAN YOU TOSS AND WHAT SHOULD YOU KEEP?

RENTING OUT YOUR VACATION HOME? KNOW THE TAX IMPLICATIONS

IS YOUR PORTFOLIO READY FOR A REIT?

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