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I have some doubt regarding pf contribution... Say for example.. 12% of my base salary is 600 which gets deducted from my salary.. on the flip side.. the company has to contribute 600 to my pf (which is actually deducted from my salary only like already part of CTC)?. So my question again is that.. the company contributes 600 as well? PwC
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Subject Expert
Do you mean using depreciation to offset rental income?
Deductions for long term rentals are pretty straight forward. Mortgage interest, taxes, insurance, HOA fees, repairs, utilities (I pay for exterminator services at some of my rentals), etc… if you have vacancy, then cleaning / repairs / marketing fees can all be deducted.
Following same situation
Subject Expert
I deduct expenses for the car that I own so I can get to the property and take care of it
Subject Expert
When I bought my first rental I bought a pickup truck so that I could buy renovation materials for DIY. I kept it because I did all maintenance myself. Came in handy for all kinds of stuff taking care of the property. Buying appliances, hauling away yard debris, property cleanouts, carrying a full complement of tools, etc.