Oh, boyee...... just spent 15 minutes trying to explain to client with vacation rental property that since he did not include the resort tax in his income (total rents), that he could not also deduct it as an expense. (He collects that from the vacationers when they book.) But, he says, I don't keep that money, I send it to the state. I list what I make. Okay. Fine. But then, he says, well why can't I deduct it, I pay it to them. His wife says, I understand exactly what you are saying. But I could tell, he really didn't.
-
-
Income and Deduction
That guy's not going get it unless you resort to some extreme measures...
BMKBurton M. Koss
koss@usakoss.net
____________________________________
The map is not the territory...
and the instruction book is not the process.
Comment