Owning rental property can be a great source of income, but it also comes with tax obligations. Whether you’re renting out a single-family home, an apartment, or even a room in your house, the IRS requires you to report rental income and related expenses accurately. Here’s a straightforward guide to help you navigate the process. What Is Rental Income?Rental income includes all payments received for the use or occupation of… Read More
Deacon CPA | Accounting Blog