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Property in Shirley, Arkansas
| Zipcode |
Population |
Households |
Average
house value | | 72153 | 2,267 | 1,242 | $90,636 |
Other cities in the area: Clinton, Quitman, Higden, Fairfield Bay, Bee Branch, Edgemont, Fox, Prim
As with any extra revenue, you are responsible for paying taxes on the rent you collect with your Shirley income property. However, you can generally deduct expenses of renting property from your rental income including depreciation, repairs, and operating expenses. If you operate on a cash basis, you can count the rental income as income when it is received, and can deduct your expenses as they are paid. You do not have to include a security deposit in your income if you plan on returning it to the tenant at the end of their lease. However, if you do not return it, this money is taxable income. As well, make sure to check with your tax advisor to ensure your taxes are correct.
Living in Shirley, Arkansas presents many opportunities for the year-round and seasonal resident.
Everything from full time employment in several key sectors to exciting vacationing activities, make the state of Arkansas
as a whole an appealing place in which to live.
Home and property investment in the Shirley area is available and accessible, but it pays to do your
research and be aware of your options. Market conditions may be more or less favorable and you'll need to know
when it's a good time to consider a home or property purchase.
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Equal Housing Opportunity
