Welcome to the New RealTown! Submit Feedback
Member Login | Join RealTown
The Real Estate Network
RealTown HomeBlogsProperty Management SoftwareProperty Management SoftwareHow to Deal with a Casualty

Property Management Software

Blog by Niman Singh
Fremont, California
T-ReX Property Management Software for real estate investors to save them TIME and MONEY

Categories

Subscribe

Your E-mail Address:
Subscribe to:

Recent Comments

RE: OMG, Take a Look at What Inman Said About Us
hi mate this is interesting article will make sure...
Question on ancillary charges
I currently work at a very large property in Los A...
RE: OMG, Take a Look at What Inman Said About Us
Thank you for the sensible critique. Me & my n...
RE: OMG, Take a Look at What Inman Said About Us
 I must admit that today is my first time I v...
Colon Cleanse
Hi there, my name is Colon Cleanse.Its Very true...

Archive

Favorite Links

RealTown Blogs

Blogs Homepage
Featured Entries
Recent Entries
Recent Comments
Tags
My Starred Entries
Create A Blog
Log In

Site Feed

RSS Feed

Members that have starred this entry:

United States of America
T-ReX Global has starred 54 Blog Entries.
Fremont, California
Niman Singh has starred 59 Blog Entries.

How to Deal with a Casualty
Posted at Property Management Software by Niman Singh
May. 22, 2008
Categorized in: Property Management Software
Tagged with: real estate professionals, taxtips
Starred by: 2 Members
Have you ever had to deal with a CASUALTY LOSS?

Here's why I ask:

Losses incurred because of a casualty, disaster, or theft can be tax-deductible.

These losses may be limited, but they are certainly deductible.
For Example: Your tenant runs their car through the garage door
Even though you haven't replaced the garage door, and don't have any expenses to write off because you didn't fix anything, you can deduct the cost of damages incurred as a casualty expense.
The loss you claim will be reduced by any reimbursements you receive (like insurance).
To claim a casualty loss, you must full out IRS Form 4684.
To learn more about how to save money and lower taxes using real estate investments, check out these resources.

RealTaxTips.com

Niman Singh
Permanent Link | Comments (0) | Write a Comment | Send Link

User Comments

There are currently no user comments for this entry. Be the first to post a comment!

Write a Comment
Your Name:  RealTown Members: Click here to login
Your E-Mail: 
Your Website: 
Subject: 
Your Comment: 
Notifications: 
Privacy: 
Verification: 
To verify that you are a human and not a script, please enter the verification word from the image into the box on the right.