It helps you understand your business in terms of liquidity and solvency — that is, your ability to meet day-to-day obligations like payroll and rent. This analysis will guide you in creating a realistic budget for the future. Finding an accountant to manage your bookkeeping and file taxes is a big decision. Managing rental income […]
Author Archives: minhnguyen
The placed-in-service date is when you begin holding the property for rental income after inheriting it. When you convert your home to a rental, the placed-in-service date is the conversion date—not when you originally bought the house. Your depreciation basis is the lower of fair market value at conversion or your adjusted basis, which often […]
Because emotional relapses occur so deeply below the surface in your mind, they can be incredibly difficult to recognize. There is one benefit of self-help groups that deserves special attention. They can be obstacles to recovery, because individuals may feel that they have been damaged by their addiction and they don’t deserve recovery or happiness. […]