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Rental Properties
Be it a small apartment over the garage or a multi-unit building, it's still a rental property.
Rental properties are an important investment for many people. They can offer the benefits of having someone else buy the asset for you (through rental payments), potential appreciation in value, as well as significant tax benefits.
Of course, these tax benefits come at a cost - in the form of complicated tax laws. Understanding them allows you to take the full benefits; failure to understand, and you investment can get trampled.
That's where McKernan Corp comes in - we understand … your needs and the tax laws. You should be managing your property and let us worry about …
- Allowable expenses and includible income.
- Depreciation methods, rates and schedules.
- Asset basis for tax purposes.
- At-Risk limitations.
- Deductiblity of rental losses.
- Basis adjustments at time of sale.
Have a rental unit in your home or a vacation property? Then for you, the tax laws are even more complex.
Call or Contact Us today to learn how we can help you!