News That Matters

Tag: renting

A big tax break could be yours, just by renting out a room in your house or apartment

A big tax break could be yours, just by renting out a room in your house or apartment

Finance
If you've been following tax news at all, you've probably heard about the new 20 percent break for "pass-through" businesses. Perhaps you've wondered: How can I get in?Starting a business, however — yes, even if it's just a "side hustle" — can seem like a time-consuming and complicated endeavor. But there's a relatively painless way: Rent out a spare room of your house or apartment. Landlords of all stripes could be eligible for this deduction. "If you have the housing, you're taking advantage of assets you already have to get into a business," said Mark Luscombe, principal federal tax analyst at Wolters Kluwer Tax & Accounting.Pass-through entities are businesses that don't pay the corporate income tax. Instead, the profits are passed through to the business owner, who reports that in
Buying and renting: Your biggest financial decision – in 10 charts

Buying and renting: Your biggest financial decision – in 10 charts

Business
Buying a home is the most significant financial decision in most people's lives. For tenants, paying the rent is the biggest monthly outgoing.So it is little wonder that house prices are an obsession for some, and a source of frustration for others.The financial crisis had huge implications for those wanting to buy or sell property.Here is the story of what has happened to the UK housing market in the past 10 years. 1. House prices are rising... or are they?The price of the average UK home has risen in the past 10 years, as you would expect. Prices of goods and services in general, as measured by the Consumer Prices Index measure of inflation, have increased faster.So, in real terms, the average UK house price has fallen compared with a decade ago.2. Price rises or falls depend on where yo...