Thursday, October 20, 2011

Since we are on the subject

I found out last week from a friend with a bed and breakfast and a vacation apartment he rents out that you can have up to FIVE rental properties without having to open up a tax number. That means that you only pay 20 percent tax on the rent you receive (much cheaper than, say, income tax) and you don't have to pay an accountant every month-- you can just make that same yearly appointment you've always made. Not a bad idea to up your income (listen up, low earners like myself!) especially at a time when it's not really clear where to put your money (especially in Italy). Italians still say bricks and mortar are the way to go.

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