Thursday, November 5, 2009
Keeping Track Of Money That You Have Lost
When you lose money, of course, you can count it on your taxes. However, if you keep excellent records, you’ll be able to gift these records to your property owning client. This is a great way to show that you are a commercial property management company that they can rely on. You may need to have your account and explain to them how this data can be used to claim their own losses. This is especially helpful if the client is losing money because they have so many vacancies due to the economy. As a matter of fact, it may be a tax incentive for you if you turn over all of the losses to the property owner completely. Of course, this varies from state to state, but your accountant will know if this is an option for you.