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  2. 11 Tax Deductions You Can Take If You Have Rental Income - AOL

    www.aol.com/11-tax-deductions-rental-income...

    Here’s a list of common tax deductions if you have rental income: Mortgage interest. Property tax ... to claim back your improvement expenses over time through the depreciation deduction ...

  3. How I Paid Zero Income Taxes on My New Rental Property - AOL

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  4. MACRS - Wikipedia

    en.wikipedia.org/wiki/MACRS

    Multiply line 11 by 1.00 if the 100% special depreciation allowance applies. This is your special depreciation allowance. Enter -0- if this is not the year you placed the property in service, the property is not qualified property, or you elected not to claim a special allowance -0- 13. Subtract line 12 from line 11. This is your basis for ...

  5. New Law Gives You $8,000 for Free To Make These 5 Home ... - AOL

    www.aol.com/finance/law-gives-8-000-free...

    The “nonbusiness energy property credit” gives homeowners a 30% tax credit, worth up to $1,200 per year, for the installation of upgrades like energy-efficient skylights, insulation and ...

  6. Depreciation - Wikipedia

    en.wikipedia.org/wiki/Depreciation

    An asset depreciation at 15% per year over 20 years [1] In accountancy, depreciation refers to two aspects of the same concept: first, an actual reduction in the fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wears, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are ...

  7. Expense account - Wikipedia

    en.wikipedia.org/wiki/Expense_account

    An expense account is the right to reimbursement of money spent by employees for work-related purposes. [1] Some common expense accounts are Cost of sales, utilities expense, discount allowed, cleaning expense, depreciation expense, delivery expense, income tax expense, insurance expense, interest expense, advertising expense, promotion expense, repairs expense, maintenance expense, rent ...

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