Beyond the Numbers

The Pros and Cons of Renting Versus Buying

For many folks, the lyrics of a 1960s rock song summarize the American dream:¬†“Our house is a very, very, very fine house.”¬†According to U.S. Census figures, about two-thirds of American families are homeowners. But buying a house or condo may not be the best choice for every family in every situation. Renting offers the following…

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Common rental income mistakes

If you own rental property there are a number of mistakes you should avoid. Here are some major ones: Forgetting the 14-day rule. As long as you rent out your property for a period of 14 days or less per year, you do not have to report rental income or otherwise treat rental activities as…

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