Welcome to the New RealTown! Submit Feedback
RealTown HomeBlogsTips from T-ReXTaxTipsPay Your Spouse to do Your Work

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

Categories

Subscribe

Your E-mail Address:
Subscribe to:

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

Pay Your Spouse to do Your Work
Posted at Tips from T-ReX by T-ReX Global
Jun. 9, 2008
Categorized in: TaxTips
Tagged with: real estate professionals, taxtips
Starred by: 1 Member
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
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.