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Property Management Software

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

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Pay Your Spouse to do Your Work
Posted at Property Management Software by Niman Singh
Jun. 9, 2008
Categorized in: Property Management Software
Tagged with: real estate professionals, taxtips
Starred by: 2 Members
You should hire someone (like a family member) to do your work and write off the cost of labor, since you cannot deduct the cost of your own labor.
For Example: 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.
SO YOU SHOULD HIRE A FAMILY MEMBER!!!
If you hire a non-owner (like your child or possibly your spouse), the costs are deductible against your income because they are considered to be business expenses.

There's no catch and it's A-OK with the IRS. You will have more control over lowering your expenses while still keeping the ability to write them off.
To learn more about how to take control of your real estate investments, check out RealTaxTips at TReXGlobal.com.

RealTaxTips.com

Niman Singh
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