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Top 10 property management tax deductions for 2025

Buildium

Deductions on Legal and Professional Services You can deduct fees that you pay to attorneys, accountants, consultants, and other professionals if the fees are paid for work related to your business. If you have a home office, you can deduct a portion of your homeowners insurance. Tax deductions can help you save money year over year.

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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

Insurance Insurance you buy for your business, such as business liability or property insurance. If you have a home office, you can deduct some of your homeowner’s insurance. When you hire an independent contractor, that cost is deductible, too. This deduction is scheduled to end on Jan.

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After a Wildfire: Essential Steps for Property Recovery

Beach Front Property Management

Steps for Post-Fire Recovery of Properties Post-fire recovery for properties involves several key steps to ensure that both the physical damage and insurance claims are handled properly. Confirm the adjusters name with your insurance company before their visit. Reach out to a contractor for an additional estimate to ensure accuracy.

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1099 forms for property management: Everything you need to know (2024 update)

Buildium

Property managers are required to request a W-9 from and issue a 1099-MISC form to each owner, attorney, and contractor they work with, so long as payments meet or exceed the $600 threshold. The W-9 form will give you their filing status and federal tax ID, so you can file your 1099-MISC forms accurately when the time comes.

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How to Handle a Bad Contractor

SparkRental

The Big Picture On How to Handle a Bad Contractor: Keep detailed records of all agreements, payments, communications, and any issues with the contractor’s work. Before escalating, address the problems directly with the contractor, clearly outlining the issues and your expectations for corrections.

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Building Your Colorado Springs Dream Team: Essential Professionals for Investors

Muldoon Associates

Building a robust network of contacts, including fellow investors, real estate agents, financial advisors, and contractors, can provide numerous advantages. Their network of contacts further facilitates connections with other professionals, such as lenders, inspectors, and contractors, enriching your investment ecosystem.

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The Top 10 Mistakes Colorado Springs Property Owners Make (And How to Avoid Them)

Muldoon Associates

Ignoring Maintenance Issues There are so many mistakes that can be made with maintenance, from ignoring preventative services to hiring the wrong vendors and contractors. Have an attorney or a Colorado Springs property manager review your lease to ensure it complies with local laws. That starts with good insurance.