Share/Bookmark

The IRS website has a wealth of information, including hundreds of publications and guides on almost any tax-related topic. The instructions for a particular form can often provide the answers you need. The Interactive Tax Assistant can also help. It’s a tax law resource that asks a series of questions and provides you with responses to common tax law questions.

Many taxpayers call the IRS’s main help line when they could easily help themselves at www.irs.gov or get services more directly from automated or specialized phone lines.

• Check on your refund: Use the “Where’s My Refund?” tool at www.irs.gov or the automated system at 1-800-829-1954. IRS Phone representatives don’t have any additional information beyond what these tools provide.

• Get forms and publications: If all you need is forms or publications, download and print them at www.irs.gov or call 1-800-TAX-FORM (800-829-3676) to have them mailed, for free, to your home.

• Get previous years’ tax info: You can order a transcript of your account at www.irs.gov.

• Payment plans: If you can’t pay the tax you owe, you can apply for an installment agreement using the Online Payment Agreement application, or you can print the Form 9465, Installment Agreement Request from www.irs.gov, then complete and mail it.

• Business taxpayers: Taxpayers with small business-related questions should call 1-800-829-4933.

• Understanding a notice: If you received a notice, call the number on your notice, not the main help line, to reach the IRS staff trained to help with that issue.

• Specialized reasons: If you’re calling for a very specific reason, there may be a direct phone number you should call instead of the main IRS help line. Visit the “Contact IRS” link at www.irs.gov to get more information on contacting the IRS about reporting identity theft or fraud, reaching the Taxpayer Advocate Service, voluntarily disclosing offshore accounts, information on the Health Coverage Tax Credit, or if you’re calling from outside the United States.

Some taxpayers prefer face-to-face tax help. The IRS sponsors Volunteer Income Tax Assistance and Tax Counseling for the Elderly sites in local communities. To find the closest site, search “VITA” on www.irs.gov or call 1-800-906-9887. Call 1-888-227-7669 to find TCE sites through AARP, an IRS partner. The IRS also has Taxpayer Assistance Centers located throughout the country. To find IRS offices, use the locator tool found through “Contact Your Local IRS Office” on www.irs.gov. Be sure to check office hours and services offered before visiting your local IRS office.

There may be some circumstances when you need to call the IRS main taxpayer assistance line, which is 1-800-829-1040. Here are a couple of tips on when to call:

• Call if you have questions about your tax account such as a high dollar balance due or the balance due on your installment agreement.

• Call the IRS if you can’t figure out how or if certain tax laws apply to your situation. IRS representatives can discus your individual circumstances and help you understand your tax obligations or benefits.

Source: Internal Revenue Service, April 11, 2012

Original article at http://www.trexglobal.com/property-management/rental-tax-deductions/other-real-estate-tips/property-managers-landlords-and-real-estate-investors-how-to-get-tax-help-from-the-irs

Share/Bookmark

A few things to keep in mind about this new system are regarding some of the notifications that the responses will automatically send out. If you click “No” that you do not approve the work order, it will automatically send an email out to the tenant that the work order request has not been approved. Additionally, it will notify our office as well. There will still be some work orders that you will see come through that will be marked as approved automatically, such as emergency items that need to be addressed immediately, or misc. legally required updates. However, for the majority of the work orders received, they will sit as pending until they have been approved. With this in mind, if you have any questions about the work order, or would like us to find out further details, please contact our office. We can answer that information before the work order is approved or denied. The system will generate frequent reminders if the work orders are not marked as approved or denied.

If a work order is approved or denied, you will have the ability to add in your own notes if you would like. This allows for work orders to be approved and notes added that say, “Please use Plumber Joe to take care of this” or “Also, please have the maintenance team take care of the other bathroom sink and main line while on site.”

Work orders can be generated by a number of different sources – 1) generated by the management office (most common), 2) generated by the tenant through the tenant portal, or 3) generated by you through the owner portal. If a tenant submits a work order, our office will continue to make sure that they are all reviewed prior to any action. For example, if a tenant submits a work order that they broke the window, we will make arrangements with them and a glass company for the repairs to be made properly and for it to be their expense. However, you will still receive a notification of the work order.

It is our intention to allow for the information within the owner portal and the new maintenance features to continue to be a tool that enables you to make the most of your real estate investment. If you have any questions about this process, please do not hesitate to let us know.

Access your owner portal here – www.pacleg.com/ownerportal

Share/Bookmark

Smoking in apartments and condos in the city of San Diego could be banned if a proposed ordinance becomes official.

The proposal, which was recently reviewed in a City Council committee, would give non-smoking tenants the power to make their living environments smoke-free. Right now, landlords have the choice to designate their rental properties smoke-free under a state law that was enacted Jan. 1.

Related: How California’s new non-smoking law will affect renters

Under the new idea, renters bothered by a smoking neighbor would need to submit a written complaint with proof to their landlords. The landlord must take reasonable steps to stop the smokers with up to three verbal warnings, and if needed, a written warning. The last resort could be eviction of the offender.

Local community organizer Manuel Andrade, with the nonprofit Social Advocates for Youth, leads the task force that authored the suggested ordinance. The proposal, he said, is intended to help renters who are impacted regularly by smoke fumes through windows and air vents, and around common areas.

“I hear stories from people who say, ‘I don’t have a regular life. I take a shower, I dry myself with my towel and it stinks like cigarettes,’ ” Andrade said.

Steve Kellman, founder of the Tenants Legal Center in San Diego and a landlord himself, called the smoke-free idea “noble” but possibly problematic.

“The landlord’s view is that it’s a bad ordinance and not needed because there’s already a state law in place that gives landlords personal freedom,” said Kellman, who has voluntarily adopted a smoke-free policy at his 12-unit apartment complex. (Reporter’s note: This sentence was clarified Thursday to reflect where Kellman has implemented a smoke-free policy.)

The proposal also could also be an added burden to landlords in time and effort in enforcing it, Kellman said.

The proposed ordinance was heard in committee earlier this month and has been referred to the city attorney’s office for review. An answer on the draft language is expected within roughly the next three months.

Original article at http://web.utsandiego.com/news/2012/feb/29/could-smoking-be-banned-apartments-san-diego/

Share/Bookmark

Please follow these steps to access your Owner Portal for the first time.

1. Visit www.PacLeg.com and click on the Services tab at the top of the page.
2. Click on the blue Login button in the left side bar. Alternatively, the Login button is also located at the bottom of the home page by the search bar, or you can go to the login page directly by visiting www.PacLeg.com/login
3. Under the Rental Properties section in the middle of the page, click on Property Owner Login. This link is illustrated in the picture below.
   
4. Once the login page loads, click on the Sign Up button to be directed to the registration page. Be sure to include your regular email address while signing up. The email address that you receive regular updates from our office is already registered to your account. By providing that email address while signing up, this will connect your registration information to our system.
5. Once you have provided your information, your temporary password will be emailed to you. Use your email address and password to login to the system for the first time. Also, be sure to change your password once you access the system, so that it is easy to remember when you visit the Owner Portal in the future.
6. Click on Documents to review the financial documents and statements that have been added to your portal.
7. Before you log off, take a moment to explore the capabilities of the Owner Portal system. Review bills, maintenance work orders, statements, etc.
8. If you have any questions along the way, please do not hesitate to contact our office at
   619-423-7500 or by email at info@pacleg.com

Share/Bookmark

Share/Bookmark

Take action now to SAVE on taxes! ACT BEFORE DECEMBER 31, 2011

Follow these top year-end tax tips and strategies for rental property owners.

1. Time Rental Income

Income timing is a time-honored year end plan. In future, tax rates are expected to increase from current historical low rates. If you expect rates to go up it might be better to accelerate income by receiving by January rental income in December. Income timing is not easy and you should consider its impact on various deductions.

2. Accelerate Rental Expenses

There are many different types of expenses that  can be accelerated to reduce rental income for the year. You can purchase goods and services needed for the rental property business, and pay the bills early. Qualifying expenses include advertisements for vacancies, printing, association memberships, business insurance, seminar fees, education courses, cell services, subscriptions, insurance, and utilities. You can also stock up on any office supplies, like printer paper and ink cartridges.

Interest is generally one of the largest deductible expenses – so you can prepay the January mortgage payment to increase your interest expense for the current year.

If you have employees that you pay for your rental business, prepay the withheld Social Security, Medicare, and unemployment taxes.

3.  Harvest Capital Gains or Losses

The low 15 percent federal long term capital gain has been extended through 2012.  Consider tax loss harvesting to offset any current year gains or to accumulate losses to offset future capital gains that would be taxed at higher rates.

4. Employees Health Insurance Credit

You can deduct the cost of health insurance for any employees of your rental business. Take advantage of the health insurance credit, which provides a credit worth up to 35% of premium costs in 2011.

5. Claim Home Office, Workshop, Garage Deduction

If requirements are met, this is one of the best deductions as it enables conversion of non-deductible personal expense into a tax-deductible rental business expense.

Besides deducting expenses for use of space at home for office work, you can deduct space used as work- shop for rental business. If you use your garage to store your tractor to cut grass or to hold furnishings, you can deduct expense for its use.

6. Hire Your Children and Put the Earned Money in IRA

Consider hiring your children to work for your rental business part-time. Deduct their compensation and it is likely you will be moving the income from high tax bracket to lower tax bracket.

In addition, unincorporated businesses do not pay FICA tax on wages paid to children under 18. Put the money earned in IRA account for them. It is a great way to move money into account where it can grow faster through tax deferral.

7. Casualty, Disaster Losses

Losses experienced by rental business due to casualty, disaster or theft may be tax deductible. If your rental business experienced a casualty or disaster loss, use the loss to your benefit. Do not forget to take the casualty and theft losses because of theft, floods, etc.

8. Claim Your Automobile Expenses

Automobile expenses paid exclusively for your rental business can be fully deductible. You can select either the actual expenses method instead of standard mileage if the automobile incurred lot of expenses in 2011.

9. Claim Your Travel and Entertainment Expenses

Deduct travel and entertainment expenses incurred when traveling for your rental business. If you travel overnight for your rental business, deduct your airfare, hotel bills, meals and other expenses.

10. Expense Repair Costs

Remember that repairs are expensed in the year that they occur while improvements are depreciated. Deduct the full cost of repairs that are necessary to keep your property in good working condition like fixing broken windows, gutters, leaks, locks, painting rooms, plastering, etc.

Bonus Tips

1. Increase Rental Property Asset Depreciation Expense

Identify your rental property’s short life assets to depreciate them faster. Assets like air conditioners, refrigerator, carpets, clothes dryer, etc can be depreciated over 5-year life while fences, patio, sidewalk, etc can be depreciated over 15 years. By separating assets and depreciating them separately, deductions are taken sooner.

2. Exclude Rental Income

If you rented your vacation home or home for less than 15 days, you can exclude the rental income on your tax return. In order to avail this tax benefit, the vacation home has to be considered a residence. In order for the property to be considered a residence, you or your family member have to use the home for 15 days at least. You may not be able to deduct any rental expenses but you can deduct interest, property taxes if you itemize deductions.

3. Installment sale

The low 15 percent federal long term capital gain has been extended through 2012.  If you had sold a property on installment sale consider options of triggering a gain on the contract so that you lock into the low 15 percent capital gain rate.

Remember to take action before December 31, 2011!

Everyone’s tax situation is different, and this information should not substitute professional advice.Landlords, Real Estate Investors and Vacation Home Owners should always consult with their tax advisors to consider specific factors that might affect their situation.

Original article available at http://www.trexglobal.com/property-management/rental-tax-deductions/other-real-estate-tips/2011-year-end-tax-tips-for-landlords-real-estate-investors-vacation-home-owners

Share/Bookmark

By clicking on one of the below links, you will be taken to a form that will allow you to fill out the details of the scope of work that you are looking for. Clicking on submit will submit the form and the contact information that you provided to several of the vendors that we utilize frequently. Please note that our vendor list will change from time to time due to current business relationships.

Once the vendors receive your information, they will be able to contact you at the email and or phone number that you left in order to complete the work. If you have any further questions, please do not hesitate to let us know. Click here for our contact information.

What type of service are you looking for?

** Currently, our RFP Service only services the San Diego Area.

Click here to be transferred to our Request for Proposal system

Share/Bookmark

Commercial and residential buildings consume vast amounts of energy, water, and material resources. In fact, U.S. buildings account for more than 40 percent of total U.S. energy consumption, including 72 percent of electricity use. If current trends continue, buildings worldwide will be the largest consumer of global energy by 2025. By 2050, buildings are likely to use as much energy as the transportation and industrial sectors combined.

Submetering is the use of metering devices to measure actual energy or water consumption at points downstream from the primary utility meter on a campus or building. Submetering allows building owners to monitor energy or water usage for individual tenants, departments, pieces of equipment or other loads to account for their specific usage. Submetering technologies enable building owners to optimize design and retrofit strategies to energy and water management procedures more efficient and effective.

While the return on investment (ROI) for submeters depends on specific energy-efficiency strategies that may vary by climate, building type, and other factors, “numerous case studies provide evidence that the ROI can be significant,” concludes the report,Submetering of Building Energy and Water Usage: Analysis and Recommendations of the Subcommittee on Buildings Technology Research and Development. Installing submetering technology also makes possible the use of more advanced conservation technologies in the future, the report notes.

The report is a product of the Buildings Technology Research and Development Subcommittee of the National Science and Technology Council (NSTC), a cabinet-level council that is the principal means within the executive branch to coordinate science and technology policy across the diverse entities that make up the federal research and development enterprise.

The NSTC report provides an overview of the key elements of submetering and associated energy management systems to foster understanding of associated benefits and complexities. It documents the current state of submetering and provides relevant case studies and preliminary findings relating to submetering system costs and ROI. The report also addresses gaps, challenges and barriers to widespread acceptance along with descriptive candidate areas where additional development or progress is required. It also surveys policy options for changing current buildings-sector practices.

The 74-page report can be downloaded from:www.bfrl.nist.gov/buildingtechnology/documents/SubmeteringEnergyWaterUsageOct2011.pdf.

For more details, see the Nov. 8, 2011 announcement, “Government Issues Building Energy and Water Submetering Report” at www.nist.gov/el/submetering.cfm.

Original article at http://www.sciencedaily.com/releases/2011/11/111109161340.htm

Cross posted on our Homeowner Association Blog at http://pacleg.com/hoablog/2011/11/new-reports-urges-more-detailed-utility-metering-to-improve-building-efficiency/

Share/Bookmark

SDCAA is encouraging all owners, managers and tenants in San Diego to check their water bills for billing errors.  According to an article published this week many ratepayers have been overcharged and are unable to pay their bill online.  In some cases, this has caused water shutoffs.

The City of San Diego launched a new billing system in July, and since that time some customers who had set up automatic payments and passwords were disconnected from the City’s online service.  While the City has assigned more than a dozen employees to fix the problem, many ratepayers are still experiencing problems.  If you have been affected please visit the City Water Department’s Customer Care Center here.

The entire article discussing this problem can be viewed here.

Original article available at http://www.sdcaa.com/index.php?option=com_content&view=article&id=224:san-diego-water-bills&catid=38:news&Itemid=37

Share/Bookmark