The New Estate and Gift Tax Act By Jeff Reed On December 17, 2010, the President signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (Act), revising the income, estate, generationskipping transfer (GST) and gift taxes for 2010, 2011 and 2012. For 2010, the Act retroactively imposed an estate…
DetailsHome vs. Business Expenses and Tax Deductions for Landlords From Completelandlord.com No matter what anybody tells you, you cannot deduct personal, living or family expenses as business expenses. The IRS is committed to keeping your business expenses separate, despite a rise in fraudulent home-based business tax schemes. The IRS noted that the following examples are…
DetailsApartment Insurance Costs Increase for the First Time in Four Years By the National Multi Housing Council The cost to insure apartments rose slightly in 2011, the first time in four years, according to the National Multi Housing Council’s annual Apartment Cost of Risk Survey (ACORS). The survey, which is based on data covering 750,000…
DetailsFailure of Leadership in the Rent Stabilization Revision By Michael Millman, Esq. Below is an open letter sent to Mayor Villaraigosa. Dear Mayor Villaraigosa: Approximately six years ago, the L.A. City Council arranged for the Economic Round Table Group to investigate the feasibility of continuing with rent control within the City. The Council allocated $1,000,000…
DetailsThe Tax Planning Countdown to 2013 Starts Now! By Cliff Hockley As we begin 2012, all real estate investors need to pay very close attention to the ever changing tax landscape. Particular attention needs to be paid to the significant tax increases slated to occur in 2013. Investors considering whether or not to sell and…
DetailsIs Your Fire Protection System in Compliance With the Fire Department or Your Insurance Company? By CV Fire Protection, Inc. The National Fire Protection Association (NFPA) requires that all fire protection systems be inspected, tested and maintained periodically in order to ensure a reasonable degree of protection of life and property from fire. It is…
DetailsThe American Dream Redefined “ An Opportunity for Landlords! By Drew DeMasters New government data in January 2012 showed that America is more and more becoming a nation of renters. The Commerce Department reported that just 66% of U.S.homes was occupied by their owners in the fourth quarter of 2011. That’s the lowest level of…
DetailsLetters to the Editor¦ Dear AOA: I had missed a few issues of the monthly magazine after moving to Arizona. This may have been due to our unsecured street mail box. When I realized that I had not been getting the magazine, I called AOA and spoke to Shelly. I explained what had happened and…
DetailsMRLANDLORD.COM Tips on Management 26 Ways to Keep Residents Longer in 2012 By Jeffrey Taylor 1) When screening residents, length of employment and rental history are the biggest predictors of Longevity. 2) Give them market rent or just below it. 3) Respond to resident calls in a timely manner, and take care of the property.…
DetailsWhat is Adverse Action Notice and When Must You Provide One? By Ilse Cordoni If you reject a tenant solely or in part upon the information in the prospective tenant’s consumer credit report and/or on the credit score, current California and Federal laws require that you provide the applicant with an Adverse Action Notice in…
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