Tag Archives: Economic rent

Renting to LLC

Today TaxMama® hears from RJ in the TaxQuips Forum, with a travel question. “I am a single member LLC. I have a long-term (3 year) out-of-state contract, which requires me to be physically onsite at the client’s location 75% of the time (3 weeks per month). I am currently renting an apartment and deducting the […]

Gift to Parents

Today TaxMama® hears from Susan in the TaxQuips Forum with a good question. “Suppose I purchase a home and keep title in my name and let my parents live in the home rent free. Is the rent-free usage of the property considered a transfer subject to the gift tax? I think not, as I have […]

Rentals Sort of

Today TaxMama hears from Doug in Alaska who has this tale of woe. “We have an apartment downstairs, that my wife and I have rented for the last three years. We decided that rather than put my ailing father-in-law into assisted living we could set him up in our unit below, where hospice and other […]

Time Share Tips

Today TaxMama hears from Sylvia in Texas needlessly putting herself down. “About those darn time share payment deductions! I understand that only stupid people invest in such things. However, can we deduct the property taxes assessed to us?”