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4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686

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1 Week Condo Rental a Charitable Donation?

Posted on August 15, 2012 by Leasa Magnuson in Individual Tax

This week’s tidbit is short but interesting. I have several client’s who donate a week’s use of their vacation condo at church raffles and such so I found this little tidbit in the research archives interesting and thought you all might find it interesting too. A taxpayer donated one week’s use of his vacation condo […]

View Post Charitable Donation, Vacation Rental Home

Renting Your Vacation Home

Posted on July 25, 2012 by Leasa Magnuson in Individual Tax

The following is a tip sent out by the IRS this week that I thought was a great reminder: Income that you receive for the rental of your vacation home must generally be reported on your federal income tax return. However, if you rent the property for only a short time each year, you may […]

View Post Vacation Rental Home

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Testimonials

Leasa Magnuson was there when we needed her.

An unexpected audit on our returns was triggered by an unfortunate investment loss. All of the horror stories we had heard about came to the top of our minds and the adrenaline started pumping. We had never been through an IRS audit and didn’t know what to expect. We gathered all of the information requested. Leasa reviewed what we had, suggested a few more items and then we dropped off the requested supporting documents to the IRS several days prior to the audit. Promptly at 9:00 a.m. on audit day Leasa was there to support me and answer the grueling questions I was sure would come from the investigator.

Before we had a chance to take the hot seats in the investigator’s office, we were told that they had reviewed our documentation and we were given a "no change" verdict – which means everything checked out. We were free to leave.

I am confident Leasa’s council, review, and organization of our documentation and giving the IRS advanced time to review the information led to the positive outcome.

We are very lucky to have her on our team and will continue to use Leasa in the future.

Anita & Mike Kelly

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4025 Automation Way #D1 (Map), Fort Collins, CO 80525 - Phone: 970-226-4686