Travel and Meals
2021 Vehicle Purchase Deductions for Landlords
Do you need a new business vehicle? Perhaps one that you can lug rehab materials around in or drive to your rentals? And do you need tax deductions this year? Real estate investors who are running a trade or business (most landlords are) can claim a deduction for purchasing a new or used vehicle. And…
Read Full ArticleWill Your Mileage Log Withstand IRS Scrutiny?
Business mileage is a tax deduction available to most real estate investors. As you wear your car down traveling between rentals, builds, flips, and client sites you can and should keep detailed records of the trips because the deduction can really add up. In 2021, every business mile you travel qualifies for a 56 cent…
Read Full ArticleWhen are Travel Expenses Deductible?
You never know where your real estate investing will take you across the country or even the globe. As such, it’s important to know when certain business trip expenses are deductible, and when they are not. Better yet, if you learn these rules you can strategically plan for your business trips to be tax-deductible even…
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