Property Management – Encino
Encino Property Management
Sherman Oaks Property Management
Studio City Property Management
What Are the Tax Implications of Renting My House?
If you live away part time, consider the tax implications of all your property options.
The IRS treats owner-occupied homes and rental property very differently. When you own and live in your home, your mortgage interest is a tax deduction. When you rent property, all expenses–including mortgage interest–are deductible, you depreciate the building and improvements over time, and you count rent as income. Depreciation is a tax deduction that allows deductions over the course of an asset’s useful life.
by Mary Gallagher, Demand Media
Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can service your area.
