taxtionary

Real Estate 

Whether you intentionally or accidentally become a landlord, taxation is a very important aspect of your business. For many landlords, the proper tax strategies and deductions could be the difference between not making money and profitability.

 

The staff of McMillan Consulting created this site because there’s too much misinformation about taxes. This is especially true with real estate and landlords. We’ve seen people owe tax agencies huge sums for writing off a building the same way the would a box of paper clips. Or become the target of a random audit and discover they didn’t add money to their income that they should have.

 

This site is not meant to replace your tax consultant, or teach someone who doesn’t know anything about taxes how to prepare their own return. We want to make you aware of what you need to keep track of.

Taxation of real estate is as varied as the opportunities there are to make money in this industry. There are four classifications for those in the real estate business. These classifications have a great impact on the outcome of your taxes.

This site isn't intended for an inexperienced person to use as a guide for tax preparation. Please consult your tax advisor.