Home vs. Business Expenses and Tax Deductions for Landlords – by 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 not considered ordinary and necessary expenses to run a business:

Apartment 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 units operated by 57 apartment firms, shows the average (nonweighted) total cost of risk (TCR) rising 1%…

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Failure 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 for the report.  The report was issued and apparently, Mercedes Marquez failed…

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Is 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 your responsibility to perform all other periodical inspections and testing of the fire sprinkler system. An “Annual Test” will provide…

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What 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 writing. If you reject an applicant on other grounds, for instance, a poor recommendation…

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