What You Should Know About Forming an LLC

Jan 12, 2018

You can view the corresponding infographic on setting up an LLC here. LLCs: Should you, shouldn’t you, when is best, what will its formation do for you—these are just a few of the questions real estate investors have when I broach the subject of forming a limited liability company, or LLC. To make things a […]

Time Is Money – Making Good Decisions, Better

Dec 13, 2017

Everybody wants to make a profit, and real estate investors are no different. Although in order to really make a profit, you have to know all the true costs and benefits that impact your bottom line ­­- and time is money, right? Money is easy to calculate as a cost, but time is one of […]

Freemium Accounting; A Wave Software Review

Aug 21, 2017

Free can be an attractive word when you are on the receiving end.  Of course, certain free offerings, can make you think twice. Here, I’ll review the free Wave Accounting Software to help you decide if it is right for your business. The Wave Accounting software touts itself as being 100% FREE.  But then comes […]

Accounting for Repairs, Replacements and Rowdy Tenants

Aug 21, 2017

Let’s face it, owning real estate isn’t all profit and glamour. Headaches happen: broken AC units, tenants who smash a window or punch a wall, refrigerators that need replacing—we’ve seen it all! But, how do you file these expenses come tax time? Here we explain how accounting works when dealing with repairs and replacements. IRS […]

Why I’m Not Scared Of A Flat Tax

Aug 18, 2017

The Trump tax plan is rumored to be coming down through congress by the end of the year. Many of the conversations thus far have focused on a flat tax, a simplification of the tax code or even just the returns.  If you haven’t kept up to date with the who’s and why’s, Tony Nitti […]

May The Tax Code Be Ever In Your Favor

Jul 20, 2017

Taxation is tricky. We want to simplify it. Today we delve into the ins and out of taxation on credit cards, freebies, gifts and promotions!  “Are my Casey’s pizza box tops taxable!?” This was the question that popped into my head when I was cleaning one evening and came across 19 box tops.  That’s only […]

5 Bookkeeping Tips For New Landlords

Jul 20, 2017

You’ve just closed on a new rental property, congratulations! The entire process was arduous but you made it through to the other side even if that inspection was a bit iffy. The closing attorney hands you keys to your new place and you walk out of the closing office a new person! But the elation is […]

QuickBooks Online vs Desktop: Which is right for you?

Jul 20, 2017

If you are in the market for an accounting solution for your business you have undoubtedly come across the popular choice, QuickBooks. Your next question, in reviewing the many variations of QuickBooks is undoubtedly: “Which is better QuickBooks Desktop or QuickBooks Online?” In the beginning of my accounting career, I used to think the answer […]

Section 179: Long-Term Deductible Costs

Jul 11, 2017

Depreciation takes a good long time, which means waiting years for deduction opportunities. But what if you could speed that time up? Here, on behalf of The Real Estate CPA, I’ll show you how to get the most out of your taxes with Section 179 rental property deductions! Depreciation As a landlord, your best bet […]

Top Ten Tax Deductions for Landlords

Jun 19, 2017

Real estate investors are always asking what expenses landlords can deduct. Because the answer to that question can quite literally be endless, we often tell our clients to record everything. For those expenses that our clients are unsure about, we ask them to create an “ask my accountant” category or account in their bookkeeping solution which […]