Monday, February 13, 2012

Rental Income Business

Today, I was doing our tax return and I found out that this year, we will have no refund. For two consecutive years, we bought two properties one for our home and the other is for rental income.My receipts are not yet organized but, this year I am trying to buy a software so I can pull out my expenses right away in a systematic manner.
By August, I am planning to add more subjects for my tax course because I am interested to become a tax preparer.
These photos were taken at our rental condo. We got this for few months now and it's truly a good source of income.
If you have a small business like we do, it is alright to prepare your tax return personally. But, if you have more than two big time businesses, you should hire a professional to do all your paper works. It is really complicated. You need to save all your receipts too.
Rental income business is good especially when you add energy saving features in the property. You will get refund from it. Good luck on your rental business.

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