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Accountant question about rental property
I own 3 rental homes soon to have 4. I manage all the homes myself. I also have a business license that is inactive (showing no income currently). I'm filling out my taxes and there is a question about a management company (I'm assuming how much there are being paid for manageing my homes). My question is I want to pay myself a fee for this service instead of hiring a company to manage the rentals.
So should I write a check every month to my business for this service and then at the end of the year take this loss off the income of the properties? Or can you susgest a different way of making less of the homes? |
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