Renting Out a Vacation Home

Tax rules on rental income from a vacation home can be complicated, particularly if you rent the home out for several months of the year, but also use the home yourself.

There is however, one provision that is not complicated. Homeowners who rent out their property for 14 or fewer days a year can pocket the rental income, tax-free.

Known as the “Master’s exemption”, because it is used by homeowners, near the Augusta National Golf Club in Augusta, GA who rent out their homes during the Master’s Tournament (for as much as $20,000!). It is also used by homeowners who rent out their homes for movie productions or those whose residences are located near Super Bowl sites or national political conventions.

For instance, if you live close to a vacation destination such as the beach or mountains, you may be able to make some extra cash by renting out your home (principal residence) when you go on vacation–as long as it’s two weeks or less. And, although you can’t take depreciation or deduct for maintenance, you can deduct mortgage interest and property taxes on Schedule A.

In general, income from rental of a vacation home for 15 days or longer must be reported on your tax return on Schedule E, Supplemental Income and Loss. You should also keep in mind that the definition of a “vacation home” is not limited to a house. Apartments, condominiums, mobile homes, and boats are also considered vacation homes in the eyes of the IRS.

Further, the IRS states that a vacation home is considered a residence if personal use exceeds 14 days or more than 10% of the total days it is rented to others (if that figure is greater). When you use a vacation home as your residence and also rent it to others, you must divide the expenses between rental use and personal use, and you may not deduct the rental portion of the expenses in excess of the rental income.

For example, let’s say you own a house in the mountains and rent it out during ski season, typically between mid-December and mid-April. You and your family also vacation at the house for one week in October and two weeks in August. The rest of the time the house is unused.

The family uses the house for 21 days and it is rented out to

Three Travelling Bags of Life We Need to Carry in Life Journey

There was a man who wanted to cross the desert. This man took a travelling bag with him, which was filled with food and water. At the beginning, he had been walking towards the north of the desert, but a sudden dust storm happened at night. The next day, when he got out of the sand dunes, looking greenish yellow sky, he didn’t know where to go.

There was also a man who wanted to cross the desert. This man took a travelling bag with him, in which there was a compass. He thought he would cross the desert in a day, but the dust storm blocked his trip. When the sandstorm stopped, it was the next day morning. This man went on walking with his feet deeply or lowly immersed in the sand. However, he didn’t reach the center of the desert until the next evening. Later, being tired and hungry, he eventually passed out on the third day.

Another person also decided to cross the desert. He took two bags: one with a compass, so he had a very good sense of direction; the other was filled with food and water, so he wouldn’t worry about hunger and thirst. At first, when he met the person who lost the direction in the desert, he turned a blind eye; then he encountered the dying person who was lying on the sand dunes because of no food and water, he also took an indifferent glance and left; later, when he surpassed several people who needed help, he ignored them. The next day, this man met a group of bandits, who robbed not only camels but also two bags of him. Without a compass, this person walked blindly like the first; three days later, he was hungry to die like the second person.

The three men: the first lost his direction because of lacking a compass; the second lost his life because of lacking adequate food and water; although third person had both a compass and sufficient food and water, he lacked love. So, his outcome was the most tragic.

Person’s life is in fact a trip. Starting from the beginning of life, we should bring three bags: one with a compass, one with food and water and the other with love.

Since the online game is so popular now, Tory decided to have a try.

Same Day Taj Mahal Tour Brilliant Option Of Visiting Taj Mahal Within Short Period Of Time

Do you want to make your trip enjoyable within a short spam of time? Opt for the best tour packages of India, which could make your holiday unforgettable. If you really want to visit the places where you can get a great experience within a small period of time, choose Same Day Taj Mahal Tour. With this tour package visitors can visit the beauty of Taj Mahal which is situated at Agra in Uttar Pradesh.

Introduction of the city of Taj Mahal (Agra)
Agra is one of the most sought after and prominent cities of India. It is home to one of the Seven Wonders of the World, the Taj Mahal which is located on the bank of Yamuna River. The city of Agra is just 204 km far from Delhi and is the capital city of the Mughal Empire. People from all over the world come to India for enjoying the beauty of this amazing wonder every year. Same Day Taj Mahal Tour offers the visitors a golden chance to get familiar with this wonder of the true love. Taj Mahal is a symbol of true and undying love.

The history of Taj Mahal
The history of Taj Mahal is also much exciting and interesting. The Taj Mahal is one of the most prominent monuments, which was established in 1631 in the memory of his queen Arjumand Banu Begam (Mumtaz Mahal). Ustad Ahmad Lahuri was the chief designer of this wonder. There were 22,000 workers who worked to form the imagination of Shah Jahan, that took 22 years to be completed and finally it was completed in 1653. The dome of Taj Mahal was designed by Ismail Afandi of Ottoman Empire. There is no other monument in the world that can beat the glory of Taj Mahal.

Other attractions of Agra
There are a number of special and famous structures in Same Day Taj Mahal Tour that belong to the Mughal era. Each attractions of Agra have wonderful architecture and elaborate decoration. The host city of Agra has some other prominent attractions also to be explored such as Agra fort, Sikandra, Fatehpur Sikri, Itmad-ud-Daullah’s Tomb, Chini ka Rauza and many more. All these attractions have the multi storey minarets, shining palaces, and green gardens etc that lure the tourists very much.

Why Get An Island Grill In Virginia Beach

Our ancestors had summer kitchens, outdoor structures used in good weather to prevent overheating in the house. These days we use our gas grills for outdoor cooking, but unlike a summer kitchen the grill lacks kitchen features. This forces us to trek back and forth with food platters, beverages, dishes and condiments. We’re still preparing and cleaning up in the kitchen and it’s just not as leisurely as we planned. Enter the island grill, a complete outside meal preparation unit. Like a kitchen island, an Island Grill in Virginia Beach offers a full range of features designed to make cooking easy and convenient.

For most barbecue cooks a primary frustration is lack of counter space. It’s annoying and even dangerous to juggle tools and food around a hot grill. Island grills have a spacious area to prepare and cook your outdoor meals in safety. There’s under-counter storage for your dishes and cooking tools. Many models include refrigerators with space for food, beverages and condiments. Some versions have the option of a warming drawer which lets you barbecue early and enjoy being with your guests. Complete your outdoor cooking space with side burners or griddles to cook anything outdoors!

Now you have everything but your kitchen sink, but even that can be arranged. Beverage centers for island grills contain sinks, ice and bottle storage and even blenders. For clean up, paper towel dispensers and trash disposal drawers are very handy.

Safety may be a concern with an integral gas grill in an island constructed with flammable material. Check that the island you choose is protected from the grill’s heat with an insulated grill liner or jacket meeting National ANSI standards. Also, if you’re grilling in a covered patio, consider installing a vent hood specifically designed for outdoor use. These improve airflow and quality in your outdoor eating area.

The range of size and features for outdoor island grills is impressive. There are compact units that arrive “knocked down” in panels for ease of installation and others with multiple islands that can be configured like a true outdoor living space. The best retailers carry a full selection and will provide you with a grilling island customized to your needs.

To make your outdoor eating experiences much more leisurely and enjoyable, contact East Coast Leisure. They will offer you an Island Grill in Virginia Beach.