business expenses. What do you all usually buy your tenants and do you usually give it to them around xmas time?

ash4561 - 2020-11-08 12:28:00

We send our tenants a Christmas card and include a $50 grocery voucher. We live two hours drive away so this is more practical. I have never claimed it as a tax deduction.

jonnythecat - 2020-11-08 12:37:00

We don't as we rent at $50-70/wk under the local market all year.

smallwoods - 2020-11-08 14:24:00

smallwoods wrote:

We don't as we rent at $50-70/wk under the local market all year.

Do you have good tenants staying a long time doing that?

ash4561 - 2020-11-08 21:34:00

ash4561 wrote:

Do you have good tenants staying a long time doing that?

First one was 4 years, left to go to a job in another district. Timing of the rent increase may have been coincidental. He was an employee when he first moved in, so he was on extra discounted rent.
Second house tenants have been there when we bought the house, so going 5 years now. They got an HRV and bathroom extractor installed as soon as we took over, a new fireplace the next year and bedroom end re-carpeted last year, plus all the usual maintenance. Theirs has increased $30/wk over the 5 years.

Edited by smallwoods at 10:04 pm, Sun 8 Nov

smallwoods - 2020-11-08 22:03:00

Just because it is tax deductible does not make it free. You will still be at least 70% out of pocket.

tony9 - 2020-11-19 10:06:00

tony9 wrote:

Just because it is tax deductible does not make it free. You will still be at least 70% out of pocket.

Not even that... if the item cost say $100 then upon purchase your bank account will be less $100 and nobody is going to refund you $30 of it back.. what it actually means you did not have to earn $130 pay tax on it and with the remaining $100 pay the expense... nobody is "giving you" anything, they are just saving you from having to fork out some of YOUR money !!

onl_148 - 2020-11-25 13:31:00