Who loves to do their Taxes

Make sure you are capturing all of your tax write offs! Yes that investment property is a write off. My husband and I thought this would be cool, owning a home and leasing it to a complete stranger can be scary and definitely not easy money. But yes we were able to write off items however we worked really hard to keep our tenants happy in a home they loved. Sure you have the occasional late payer but it was worth it because of the write offs. Business owners too but be careful because what you are writing off is showing as a loss/deducted from what you really made, which can turn around and kick you in the butt if you’re trying to buy a new home, YES! Y’all when buying a home your lender will require w2’s and more, and if you are self employed they will need a Self employment form. We will go over that some more this week.