Finders fee write off? (by gevans [SC]) Jan 16, 2019 2:43 PM
Finders fee write off? (by LindaJ [NY]) Jan 16, 2019 4:20 PM
Finders fee write off? (by razorback_tim [AR]) Jan 16, 2019 5:19 PM
Finders fee write off? (by S i d [MO]) Jan 16, 2019 5:38 PM
Finders fee write off? (by BRAD 20,000 [IN]) Jan 16, 2019 7:00 PM
Finders fee write off? (by don [PA]) Jan 18, 2019 1:56 PM
Finders fee write off? (by Ray-N-Pa [PA]) Jan 19, 2019 3:55 PM
Finders fee write off? (by gevans [SC]) Posted on: Jan 16, 2019 2:43 PM Message:
Is it legit to write off a $500 finder's fee to the previous tenant?
Yes, that is much more than my typical $100 finders fee, but well worth it.
--173.233.xxx.xxx |
Finders fee write off? (by LindaJ [NY]) Posted on: Jan 16, 2019 4:20 PM Message:
If you paid it out (have a copy of the check) then it is a business expense. --108.4.xxx.xx |
Finders fee write off? (by razorback_tim [AR]) Posted on: Jan 16, 2019 5:19 PM Message:
I would either charge it to advertising or book it as a refund of rent received. --40.141.xxx.xx |
Finders fee write off? (by S i d [MO]) Posted on: Jan 16, 2019 5:38 PM Message:
I would expense it as an Advertising Promotion. You may have to document WHY you went $500 vs. $100 so it's clear to the IRS--if you ever get audited--that you weren't getting a kickback or something else weird.
Time of year is extremely slow, few showings, tenant willing to pay higher than usual rent that offsets the "bonus".... something like that. --173.20.xxx.xxx |
Finders fee write off? (by BRAD 20,000 [IN]) Posted on: Jan 16, 2019 7:00 PM Message:
gevans,
Advertising.
BRAD --73.102.xxx.xxx |
Finders fee write off? (by don [PA]) Posted on: Jan 18, 2019 1:56 PM Message:
Is it legal to pay a "finder's fee" in your state. In Penna., you cannot pay a commission to someone who does not have a real estate license, and that is what a "finder's fee" is, a commission. --70.90.xx.xxx |
Finders fee write off? (by Ray-N-Pa [PA]) Posted on: Jan 19, 2019 3:55 PM Message:
I pay $50 for referrals to a different rental
$100 if it is the tenants rental
and $500 if the resident ends up buying the place.
Vacancy is the real expense that most landlords don't see.
--72.23.xxx.xx |
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