Comments on: How Passive Is Your Passive Income? http://livingoffdividends.com/2008/05/18/how-passive-is-your-passive-income/ Join me on my journey to achieve financial independence through dividends, passive income and investments Tue, 13 Dec 2011 07:31:37 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: Tony Allan http://livingoffdividends.com/2008/05/18/how-passive-is-your-passive-income/comment-page-1/#comment-97853 Tony Allan Fri, 09 Apr 2010 09:51:09 +0000 http://livingoffdividends.com/?p=775#comment-97853 Hi Lazy Man I'm sorry but are your accountants qualified? Universally, Any expence incurred generating income is tax deductable! Basically, If your rental property brings in $15,000 rent one year and the cost to own it is say $20,000 worth of loan interest and rates, insurance etc Then the $5000 difference comes off you're personal earnings and you only pay tax on the remainder. For Example: You're income from your job is $50,000, Only pay tax now on $45,000! At a 30% Tax rate, save $1500! Plus the property goes up in value over time and that is the real passive part. Cheers and good luck in property Tony from New Zealand Hi Lazy Man

I’m sorry but are your accountants qualified?

Universally,
Any expence incurred generating income is tax deductable!

Basically,
If your rental property brings in $15,000 rent one year and the cost to own it is say $20,000 worth of loan interest and rates, insurance etc

Then the $5000 difference comes off you’re personal earnings and you only pay tax on the remainder.

For Example: You’re income from your job is $50,000, Only pay tax now on $45,000!

At a 30% Tax rate, save $1500!

Plus the property goes up in value over time and that is the real passive part.

Cheers and good luck in property
Tony from New Zealand

]]> By: Imraaz http://livingoffdividends.com/2008/05/18/how-passive-is-your-passive-income/comment-page-1/#comment-43443 Imraaz Thu, 23 Apr 2009 02:33:14 +0000 http://livingoffdividends.com/?p=775#comment-43443 i agree with some concepts may be working good but earning online is more to words less time and quick money which is why i joined gdi but didnt work for me, since 2 months ago ive joined smartappsportal.com and now i'm earning good money ......btw good concepts i agree with some concepts may be working good but earning online is more to words less time and quick money which is why i joined gdi but didnt work for me, since 2 months ago ive joined smartappsportal.com and now i’m earning good money ……btw good concepts

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