Every Landlord's Tax Deduction Guide - 23rd Edition by Stephen Fishman (Paperback)

About the Book

Every Landlord's Tax Deduction Guide is the essential resource for residential rental property owners who want to maximize their rental income by capturing every tax deduction available, including deductions for start-up expenses, depreciation, vehicle costs, meal and travel expenses, and home office costs. Packed with practical advice, real-world examples, and step-by-step filing instructions, this book transforms complex tax rules into actionable strategies that will help you owe less to the IRS at tax time and keep more of your hard-earned rental profits.

Book Synopsis

Lower your landlord taxes by claiming all available deductions.

Rental real estate offers more tax advantages than nearly any other type of investment. Understanding and leveraging these tax breaks is imperative for landlords, as they can mean the difference between making a profit and incurring losses. Most landlords own only one or two rental units and might find it difficult to afford expensive tax advice from professionals. Every Landlord's Tax Deduction Guide provides essential tax information tailored just for landlords.

This book covers:

• how landlord businesses are legally organized


• how to maximize depreciation deductions


• distinguishing between repairs and improvements


• handling casualty and theft losses


• deducting home office, car travel, and meals


• how to benefit from real estate professional status


• hiring workers


• taking advantage of the 20% pass-through tax deduction


• how to keep proper records, and


• filing the landlord tax form: IRS Schedule E.

This updated edition includes the latest changes in tax laws under the One Big Beautiful Bill Act that affect rental properties and landlords. Additionally, it offers advice on record keeping and accounting, as well as tips to protect yourself from IRS audits. The guide addresses everything from depreciation and deducting rental losses to completing a landlord tax return.

Every Landlord's Tax Deduction Guide is organized into practical, easy-to-understand categories and includes engaging examples, helping readers see how each deduction works and in what contexts they apply.

Review Quotes

"The best of the best...heavily emphasizes maximizing depreciation deductions." Chicago Tribune

"Named a "Top 10 Real Estate Book" by Robert Bruss, syndicated real estate columnist."

"Updated and revised to cover tax rules for Airbnb-type rentals, Every Landlord's Tax Deduction Guide lives up to its title with practical information and invaluable advice. Chapters walk the reader through how to deduct operating expenses, the basics of depreciation, the home office deduction, hiring help, casualty and theft losses, necessary record-keeping systems, and much more. An index and access to publisher Nolo's website filled with useful legal forms, profiles of landlord-tenant and tax lawyers in one's area, and more round out this absolute "must-have" for all real estate owners." The Midwest Book Review, Wisconsin Bookwatch