- Serving Taxpayers Since 1993
- File In Person or Fully Virtual
- Year-Round Help, Not Just Tax Season
- Nonprofit & Church Specialists
- Flexible Refund & Payment Options
Katy has plenty of accidental landlords. Some bought a bigger home in Jordan Ranch and kept the first one as a rental. Others moved here for work and rent out the house they left behind in another state. Either way, a rental adds a Schedule E to your federal return, and the rules for depreciation, repairs and property tax take some care. We prepare rental returns for owners of one house or several.
When You Need Rental Property Tax Preparation
Get help in the first year you rent a place, since that is when depreciation starts. IRS Publication 527 on residential rental property says you begin depreciating when the home is ready and available for rent, and that costs like insurance, interest and property tax can generally be deducted from rental income. Getting the first year right sets up every year after it.
You also need help when you sell a rental, move back into one, or take on a big job like a new roof or a foundation repair. Some costs come off this year. Others must be spread over many years. Mixing those up is one of the most common errors we fix.
Our Rental Property Tax Preparation Process
We start with your rent totals, your expenses and the closing papers for each property. For a first-year rental we set up the depreciation schedule. For a rental you already report, we check the old schedule and carry it forward. Then we sort costs into repairs, improvements and regular bills like insurance, HOA dues and property tax.
If the rental sits in another state, we check whether that state taxes the rent. Many do, even after you have moved to Texas. Before we file, we walk you through the profit or loss on each property.
Rental Property Tax Preparation Cost in Katy
The fee depends on how many properties you own and how organized the records are. One house with a clean spreadsheet is quick. Several doors, a sale, a first-year setup or an out-of-state rental each add time. We look over your papers and quote the fee before any work starts.
Why Choose Us for Rental Property Tax Preparation
We have prepared tax returns since 1993, and rentals have been part of that work the whole time. We can also keep the books for your rentals during the year so tax time goes faster. Our office on Kingsland Boulevard is open all year, and you can file in person or online.
Property Tax and Homestead Rules for Katy Landlords
Katy spans Fort Bend, Harris and Waller counties, so your rental may be valued by FBCAD, HCAD or Waller CAD depending on the address. The homestead exemption only covers the home you own and live in as your main home. The Comptroller’s property tax exemptions page says the usual deadline to apply is before May 1. When you move out and rent the old house, the homestead ends, and the next bill can jump.
Protests of appraised value are generally due by May 15, or 30 days after the notice is mailed if that is later. We do not file protests, but we can explain your notice and put the tax you paid on the right line of your return.
Rental schedules are part of the income tax preparation across Fort Bend County that we handle every year.
Common Questions
Can I deduct the property tax on my rental?
Yes. Property tax on a rental is generally a rental expense on Schedule E. That is separate from the property tax on your own home, which goes on Schedule A if you itemize.
I rent out my old house in another state. Do I file there?
Often, yes. Many states tax rent from property inside their borders even when the owner lives in Texas. We check the rules for that state and prepare the return if one is due.