Renovating a rental property isn’t just a “track your receipts and figure it out later” situation. If the property is taken out of service—even temporarily—the tax treatment of costs, depreciation, and timing gets more nuanced than most people expect. Here’s how I approach it from a technical standpoint: 1. Temporary removal from service does NOT automatically stop depreciation If a property is temporarily taken out of service for improvements, depreciation generally continue

QuickBooks is a great financial tool, and now that automatic bank and credit card downloads are widely available, accounting for your...

Are you a real estate investor looking for personalized tax advice tailored to your unique needs? Look no further than Sara Gyselinck,...

Are you a real estate professional looking to optimize your tax planning strategies? Look no further! We have compiled a list of top tax...

As tax season approaches, real estate professionals are looking for ways to maximize their deductions and minimize their tax liability....