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Tips from T-ReX

Blog by T-ReX Global
Fremont, California
T-ReX creates simple Web Tools for real estate investors to save them TIME and MONEY

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Tips from T-ReX

June 2008

To Gift, or Not to Gift... That is the Question....
Jun. 25, 2008
Categorized in: TaxTips
Tagged with: entertainment, real estate professionals, taxtips
Starred by: 1 Member
Generally, an item that is considered a gift is also considered to be an entertainment expense. If you give an item that is intended to be used at a later date (like tickets to a performance or event), it is usually considered a gift. Sometimes yo
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I'm Selling My House to Myself!!!
Jun. 18, 2008
Categorized in: TaxTips
Tagged with: real estate professionals, taxtips
Starred by: 1 Member
Selling property to your own S-Corporation can be beneficial in TWO specific situations. By Selling to your own S-Corp, you can take advantage of the 2 year exclusion and the new basis on the appreciated property.
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Pay Your Spouse to do Your Work
Jun. 9, 2008
Categorized in: TaxTips
Tagged with: real estate professionals, taxtips
Starred by: 1 Member
If you paint your rental property or install a lock using your own labor instead of hiring a painter or a locksmith, you cannot deduct any expenses for labor. But if you hire a non-owner (like your child or possibly your spouse), the costs are deductible
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