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Updated over 7 years ago, 09/19/2017

User Stats

8
Posts
0
Votes
Val T.
  • Investor
  • Cherry Hill, NJ
0
Votes |
8
Posts

Real Estate Specific Bookkeeping

Val T.
  • Investor
  • Cherry Hill, NJ
Posted

Hi, I'm Val and I remember when I entered the real estate world.  I attracted attention to myself, by virtue of, simply, "earning too much money" too quickly! 

IMAGINE THAT?

While I was enjoying this success, I was not aware that I'd attracted attention until about 4 years later when the IRS chose to AUDIT me for that year. 

...for no other reason than, I went from earning not enough to earning 

WAY TOO MUCH!

Was I ready in my record keeping? Well, of course not! And despite working with an accountant, I quickly found out there is a HUGE difference between general accounting, record keeping and reporting and REAL ESTATE accounting.  

If you could wave a  MAGIC WAND and solve all your problems related to your record keeping and documentation related to your real estate business, what would this look like?

Note: Solving this would mean being audit ready and filing your quarterly reporting & taxes on time.

Thank you for your brain power here!  :)