You can view the corresponding infographic by clicking here. There are several easy, it-would-be-a-crime-to-miss-‘em tax deductions that every real estate investor should know about. What are they? I’ve got them all right here for you, all your tried-and-true tax deductions you won’t want to forget come tax time. Home Office Deduction Home offices not only make […]
I know I talk about the value of having separate bank accounts quite often, and I may seem like a broken record, but it is only because it is still one of the easiest suggestions I can make to my clients to take the accounts from stressful to simple. As you your portfolio scales, your systems […]
While important for most industries, recordkeeping is absolutely critical for landlords—among other things, it can keep you out of a major legal snafu! Here, on behalf of The Real Estate CPA, I provide reasons why keeping records is so essential for landlords. Before knowing why record keeping is essential, you should probably know what records […]
Real estate investment—a financial path fraught with blunders, trials and tribulations but a lucrative path nonetheless. Thankfully, it doesn’t have to be as tough, if you know what to avoid. Here we provide an expert’s insight regarding the top ten financial mistakes that can break your real estate investment, and how to avoid them! Buying […]
The accounting function for rental real estate is quite different than that of any other business. It’s not as simple as “money in = revenue; money out = expense.” Instead, accounting entries are much more complicated and convoluted. This article will provide you with accounting tips and tricks that you can use to streamline your […]
Having a well-designed accounting system sets your real estate venture up for success. Here, I share some tips and tricks to set yourself up well when accounting for your rental properties. Create a Foundation for Success Without a strong foundation, your house will collapse. In the case of accounting, your foundation is your set of […]
We’re a week into 2017 which means you’ve thought about or already set your New Year’s resolutions. Because you are in the business or real estate industry, you’ve likely heard, and potentially subscribed to, the fact that many New Year’s resolutions fall flat. Today I’m going to help you set in motion changes to your […]
I’m going to show you an insanely easy accounting system to use in your rental business. I know it works because I use it myself.
Whether you do it yourself or hire a CPA, real estate investors need to understand how to report rental property on IRS Schedule E. Our guide will help.
Tax write offs for car business expenses can help you shelter income at tax time. Learn how to take these tax write offs with this post.