How much time do you spend prepping for taxes?

[Rene Hosman]

Everyone's "favorite" time of year is upon us....  I'm talking about tax season! 

I’m curious about how much time you all spend prepping for tax season before your CPA (or tax preparer) officially files your returns?

I'm wondering what tools and resources you all use as rental owners and investors to get or keep your financial ducks in a row? Collecting rent statements, expense receipts, mortgage interest docs, and more—can sometimes feel like a full-time job in the weeks leading up to tax day. I'm really old fashioned and have been using spreadsheets for years. I know of other softwares, like Baselane that handle income and expenses all in one place. What is your take on these softwares that help with rent collection and expenses? 

What softwares are you using? How long are you usually spending on prep before you hand it all off to your CPA? A few hours? A couple of days? Multiple weekends? Do you have a particular system or software that’s been a game-changer for you? Drop your experiences below! I’d love to hear how you’re tackling tax prep and if tools like Baselane—or any other solutions—have made a difference in lightening the load.

[Garrett Ramela]

Quote from @Rene Hosman:

Everyone's "favorite" time of year is upon us....  I'm talking about tax season! 

I’m curious about how much time you all spend prepping for tax season before your CPA (or tax preparer) officially files your returns?

I'm wondering what tools and resources you all use as rental owners and investors to get or keep your financial ducks in a row? Collecting rent statements, expense receipts, mortgage interest docs, and more—can sometimes feel like a full-time job in the weeks leading up to tax day. I'm really old fashioned and have been using spreadsheets for years. I know of other softwares, like Baselane that handle income and expenses all in one place. What is your take on these softwares that help with rent collection and expenses? 

What softwares are you using? How long are you usually spending on prep before you hand it all off to your CPA? A few hours? A couple of days? Multiple weekends? Do you have a particular system or software that’s been a game-changer for you? Drop your experiences below! I’d love to hear how you’re tackling tax prep and if tools like Baselane—or any other solutions—have made a difference in lightening the load.

 I've been using Baselane for over three years now and tax time is always easy. Everything is up-to-date in realtime so I could do my taxes any day of the week! Just download their tax package and you're done!