Maintain detailed records to substantiate deductions for materials, labor, and expenses, which can significantly reduce taxable income.While an S-Corp provides tax savings, it also requires payroll management and compliance with formalities, making it essential to stay organized or consult a tax professional for ongoing compliance.This post does not create a CPA-Client relationship.

What is the best way that you have found to tell them that you need labor & materials separate, so at tax time you can send them a 1099 for labor?

A good baseline is to calculate material costs (e.g., $300 for paint and supplies) and add a fair hourly rate for labor.

Materials have increased more than 20% in the last 5-8 years.

When I first got started I didn't officially join any coaching programs, but I did buy the materials at mobile home university.

These will catch a buyer’s eye in any market, and it's no extra material cost to do so!

This is the only app I can find customized for tracking your hours and that of your cleaners, handymen etc... Anyone have any experience with it?

I have been consuming as much education/reading regarding out of state investing as I can as well as literature regarding buying larger buildings (not quite the syndication level) although I have been reading that material as well to digest.

I individually priced all my materials and got several estimates from contractors.

The place where you can add value with no money is a situation like: you find project A, it is a 120k purchase and it should need 80k rehab but you can get rehab done for 65k cause you can do some of the work and you know how to save on materials and you can manage the rehab.