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17 November 2024 | 7 replies
Your prior question was shold I use my W2 income to pay down (aka you mean what you have saved in your checking account?).
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16 November 2024 | 6 replies
I would discuss this with your accountant.
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14 November 2024 | 25 replies
And it's convenient for life if you use your personal bank account, you can still have one app for rentals and paying friends.- Con's: Nothing about the software per say, but about the landlord experience.
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18 November 2024 | 14 replies
And the net cash proceeds are what go into your 1031 account.
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18 November 2024 | 13 replies
Rufo Also consider the fact that when you switch from STR to LTR or the other way around, you will need your CPA/tax professional to do the IRS' 3115 change of accounting form to go from 39-year depreciation for STR to 27.5-year depreciation for a LTR.
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14 November 2024 | 1 reply
The 25K would go towards a rate buy down.As far as accounting for cap ex and maintenance for newly replaced/updated items, I'd still recommend doing it.
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15 November 2024 | 5 replies
If entities are disregarded, you can keep up with more than 1 in a single QBO account using the location/business feature to keep track of them separately.
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15 November 2024 | 6 replies
Since the account is linked to your mortgage, overspending can increase mortgage balances instead of paying them down.
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14 November 2024 | 8 replies
Built-in accounting software, keeps track of everything better and helps for tax returns at the end of the year3. multiple payment options are usually available for residents4. maintenance requests all in one area, easier to keep track of and keep residents informed of the status5.
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16 November 2024 | 3 replies
Then additional expenses for virtual assistants, legal help, accounting, etc.