Organizing Tax Systems

[Zach C.]

Hey Everybody,

When it comes to organization for my taxes, I am still a complete nightmare and am constantly trying to gather all my data, then organize it etc. I was curious about the different systems other (better) investors use to stay on top of their taxes, expenses, etc. Apps, spreadsheets, where you dump receipts. Just any info. on the systems you guys/gals use to stay on top of it?

[Paul Allen]

You're not alone. Many real estate investors (and other small business owners) struggle with keeping their books. I applaud your efforts to get it right!  

I might have the secret touch, though. Several people this year have brought me a box of disorganized receipts, statements, cancelled checks, luggage claim tickets, and candy wrappers. To fix it I say these magic words - "I am happy to organize that for you for $800."

Like magic those files return to my office the next week all organized.  :)

Best of Luck with Your Real Estate Investments!