Practitioner's TAXTIP

April 2009
National Public Accountant;Apr/May2009, Vol. 8 Issue 2, p4
Trade Publication
The article offers tips from the author on business or rental use conversion of homes that have decreased in value in 2009. It says that if a real estate property is rented out or used for business, the loss of value can be tax-deducted even when the property is sold at a lower price as compared when it was acquired. It adds that when a property is used to produce income, depreciation and loss deduction value can be claimed to lower taxes.


Related Articles

  • Moving? Want to Rent Out Your House? Part II. Scullion, Andrew; Trewin, Janet // Strategic Finance;Aug1999, Vol. 81 Issue 2, p22 

    The article is the second in a two-part piece discussing the tax treatment of renting out a principal residence before its sale. The relevant provisions of the Taxpayer Relief Act of 1997 are reviewed, and details related to home office rules requiring that gains associated with the portion of...

  • How to tackle depreciation. HYDE, TYRON // Money (Australia Edition);Sep2013, Issue 160, p38 

    The article discusses issues concerning depreciation schedules relevant to claiming deductions in Australia. It explains how property buyers can claim deductions for renovated properties, scrapping reports, old properties, and backdating reports. The article also discusses the role of quantity...

  • Tax depreciation strategies provide opportunity to update facilities and equipment. Zeman, Daniel R. // Westchester County Business Journal;6/5/95, Vol. 34 Issue 23, p22 

    Discusses the benefits of tax depreciation strategies in updating facilities and equipment for home-based businesses in the United States. Rules in depreciating personal property; Reductions in depreciation write-offs; Sample case.

  • Home office tax deductions. Cundari, Chris // IDEA Personal Trainer;Feb96, Vol. 7 Issue 2, p5 

    Focuses on the deduction of expenses related to the use of home for business purposes in the United States. Relative importance of the activities performed at each business location; Amount of time spent at each location.

  • Home office deduction.  // New Orleans CityBusiness (1994 to 2008);04/12/99, Vol. 19 Issue 41, p11 

    Gives advice on home office tax deductions in the United States. Qualifications for the deductions; Computation of the area used for the home-based business.

  • New law extends home office tax deduction. Aylsworth, Karen // Grand Rapids Business Journal;08/25/97, Vol. 15 Issue 34, pB-2 

    Reports on the new tax law that deducts home-based businesses in the United States. Role of Paul A. Hense, current chairman of the Small Business Association of Michigan in the implementation of tax deductions for home offices; Tax computations for the home office space; Primary benefit of home...

  • Law clarifies deductions for home-based businesses. Khasru, B.Z. // Westchester County Business Journal;12/14/98, Vol. 37 Issue 50, p27 

    Clarifies provisions on tax deductions for home-based businesses in the United States. Provision of additional fringe benefits for home-based businesses; Criteria to be met to qualify for deductions.

  • Senate to consider broadening office-in-the-home deduction. Harney, Kenneth R. // New Hampshire Business Review;3/1/97, Vol. 19 Issue 5, p24 

    Reports on a legislative effort to redefine and broaden the tax deductibility of office-in-the-home expenses, spearheaded by Senator Christopher S. Bond, chairman of the Senate Small Business Committee. Expected benefits to homeowners who run businesses from their houses; Efforts to correct...

  • Turn the table on taxes. Bennington, Robert // Enterprise/Salt Lake City;04/12/99, Vol. 28 Issue 43, p17 

    Responds to an inquiry on home office tax deductions in the United States. Changes in the law regarding home office deductions; Auditing of home office businesses; Definition of home offices for purposes of claiming deductions.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics