Asked by o***@163.com
Hello, I own a condo by myself only and I have rent it at $5K just now.
I'm thinking if I claim income tax next year, I need to add this rent to claim taxation, my marginal tax rate is above 20%. But my wife's income is very low.
Can I add my wife's name into the property owner for 1% equity, is this the lowest cost method? If she owns 1%, can she sign tenancy agreement in the future, and all rent belong to her income?
I still have around 1.3m mortgage loan with a bank. Thanks a lot
I'm thinking if I claim income tax next year, I need to add this rent to claim taxation, my marginal tax rate is above 20%. But my wife's income is very low.
Can I add my wife's name into the property owner for 1% equity, is this the lowest cost method? If she owns 1%, can she sign tenancy agreement in the future, and all rent belong to her income?
I still have around 1.3m mortgage loan with a bank. Thanks a lot
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