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Cutting the car rental expense out of any vacation can save up to a third of the cost.
Senior Goldman Sachs analyst Adrianne Shapira says discount retailer BJ's Wholesale Club could pocket $590 million aftertax by selling its owned real estate and leasing it back despite $54 million of additional rental expense.
Toyota said it considered $300,000 a rental expense and $500,000 a sponsoring donation.
On August 7, 2006, Allstate, which paid $200,000 as a rental expense and $500,000 as a sponsoring donation, acquired the visitation rights to a different set of park features (including Lurie Garden), and only had exclusive access to certain features after 4 p.m.
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He then wrote checks from that company for nonexistent rental expenses and deducted the amount from his taxes.
Workers at Lincoln Square Neighborhood House stepped in to help, tapping the Neediest Cases Fund for $139.90 to help cover his rental expenses.
Ultimately, JetBlue reimbursed the Brills $431 in hotel, toll and car rental expenses, which might have had something to do with the 25 Twitter messages Mr. Brill sent out to the airline during the long drive home, and the detailed follow-up e-mail he sent to the company about the ordeal.
A spokesman for the Independent Parliamentary Standards Authority (Ipsa) said 85% of 320 MPs who claim rental expenses had their landlords named.
You can deduct rental expenses, but here's where it starts to get complicated -- because the amount of expenses you can deduct depends on whether the property is a business or a personal residence in the eyes of the IRS.
If you rent your personal residence for fewer than 15 days a year, you don't have to report any of the rental income you earn on your tax return; however, you cannot deduct direct costs that result from the rental as rental expenses.
So, owners should either renegotiate this key term by way of what is called a liquidated damages clause (i.e. a predetermined sum of damages per day for missed deadlines) or they should instead purchase adequate insurance (i.e. loss of use coverage) in order to afford the cost of suitable alternative housing rental expenses (i.e. hotel) or to provide lost profits if it's a rental property.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com