The book takes a somewhat radical approach to business where instead of employing the age old formula of Sales - Expenses = Profit, it's: Sales - Profit = Expenses.It really helps put into perspective the necessity of spending and how we choose to categorize our money in terms of allocation.And what's savings after all, if not the true profits of your hard work?

Hey Kevin,I personally utilize all the expenses listed on schedule E to categorize my business expenses.

I'm trying to understand what date to use for categorizing expenses, I have the following example.Say someone sent me an invoice for work done on December 30th, 2022.

If you're using Quickbooks or a similar accounting program, you'll categorize each of your transactions. 

Very helpful as we begin to find our "bread and butter" materialsBudgets - Help to categorize the work we do.

I have the following situation. I have two properties, each in their own LLC. If I have an expense that's only related to one property, say a utility bill, than I can expense it under that LLC. However, sometimes I ha...

I’m struggling with how to categorize the original expense as well as the refund.

we got into an LLC by the repetition of advice heard from seminar world... n our legal n tax recommended it for holding rentals. pre2007 housing market "correction" ;) we were actively seeking multi fam apt 120+ units class c in Houston n Dallas. after becoming proficient n familiar in our target areas the market turned n we were spared the hard knocks tuition of that market correction. however, that said, we were categorically in commercial AND rental rates post 2007 shot up...so maybe we missed an opp?