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21 April 2024 | 13 replies
Quickbooks is good although I would definitely prefer to have my accounting software be the same platform as our property management software.
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22 April 2024 | 7 replies
Does anyone have an excel program or software that they recommend that includes Schedule E data to show you the potential tax savings on various real estate deals?
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22 April 2024 | 18 replies
The entry-level Quickbooks Online software itself is expensive $250/yr... that's not even adding up potential books/courses, CPA fees or personal tax filing software like Turbo Tax.
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22 April 2024 | 2 replies
Also, ListReports is a great software that give some news updates and "talking points".
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22 April 2024 | 12 replies
Probably they don't or you can watch them get heated up on the spot and make stuff up.Most of the national acts really seemed to be selling something else that probably won't help you.....database software for $30-100/month.
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20 April 2024 | 33 replies
But since the IRS can look back up to 7 years for an audit, that's not really helpful, and the IRS is also rumored to not be satisfied with spreadsheet downloads.
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25 April 2024 | 93 replies
Over the years it has become easier to self-manage our vacation rentals with channel management software and smart home technology.
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23 April 2024 | 12 replies
I already have a software development team chosen and will start production very soon.
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22 April 2024 | 0 replies
The three most common approaches include:Cost approach: An estimate of the replacement cost less depreciationIncome approach: Calculation of estimated potential rental incomeSales approach: Uses comps of recent transactions on similar propertiesBe sure you are leveraging the tax incentives availableIdentify any applicable tax incentives available for commercial properties - historic tax credits in certain areas, opportunity zones, environmental sustainability, etc.Understand available tax deductions, credits, and rebates - Tax deductions decrease the taxable value of a property, tax credits directly reduce your tax liability dollar for dollar and tax rebates are a refund of taxes paid under certain conditions.Utilize a cost segregation study - Cost segregation allows you to reclassify assets into categories with shorter useful lives, therefore accelerating depreciation and creating tax savings.Leverage energy incentives and deductions - Look into the Section 179D deduction and how you can save on tax by meeting certain standards to make your property more environmentally friendly.Best practices for commercial real estate owners and monitoring their property tax regulations:Plan proactivelyWork with a professional to receive guidance on complex regulationsUtilize specialized software tools to drive efficiency and compliance.What questions do you have regarding property tax valuations?
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21 April 2024 | 11 replies
Any recommendations on software?