Re: In a word..... - Saab General Bulletin Board - Saabnet.com
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Re: In a word.....
Posted by rico567 [Email] (more from rico567) on Sun, 30 Sep 2012 07:34:23
In Reply to: Re: In a word....., Seansaab, Thu, 27 Sep 2012 07:29:31
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Yes- but "mum" means, first of all, someone you can trust to keep quiet about anything but a strictly-by-the-tax-code arrangement. Secondly, it means NO paper trail. These things are usually found out by paper, and that means no rent or separate utility payments by check. Nothing but cash for anything, and no leases and no renter's insurance. Third, it means NO witnesses, i.e, nobody who can testify to what is or was going on.
Now- add up the risks of those three things, particularly over anything but a very short-term arrangement, and I think that I personally would just play something like this straight by the IR code, and forget about trying to slip through. The only exception would be something that was strictly temporary, say 6 months, involving someone I knew pretty well, and would adhere to the criteria I outlined above.
posted by 206.221.15...
Posts in this Thread:
- OT: Renting a room in my house and Taxes., B Millar
, Thu, 27 Sep 2012 07:02:59- Well, I am a CPA, and this is rent..., RodM, Thu, 27 Sep 2012 18:21:20
- Yes, but spend the money on a local advisor, Noel, Thu, 27 Sep 2012 11:32:02
- Check with a CPA, but my mom did for years., EricG, Thu, 27 Sep 2012 11:11:48
- We rented part of our house for years.., Cary, Thu, 27 Sep 2012 10:15:16
- In a word....., MI-Roger , Thu, 27 Sep 2012 07:07:15
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, Thu, 27 Sep 2012 07:36:45