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20 February 2025 | 15 replies
But is there a Chart of Accounts that anyone could share?
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7 February 2025 | 2 replies
I personally have a separate account for each property I own.
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6 February 2025 | 10 replies
@Nadir M. you would show 100% of whatever you collected on behalf of an owner.Of course, if tenant pays via credit card, you would NOT include the credit card fees, because you did not receive them.From the funds in your OPERATING account, you would pay any expenses on behalf of the owner, including your management fees - which you woul transfer to your PMC account.Owner will be paid from Operating account.Your vendors (office expenses, auto, etc) would be paid from your PMC account.Year end, you are require by IRS to send a 1099 with GROSS amount collected on behalf of owner.
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28 January 2025 | 20 replies
@Chris ShonYes, a real estate accountant is worth what you pay them.
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29 January 2025 | 4 replies
If you’re unsure about which specific account to choose, ask a local CPA or banker, since every situation can vary.
21 January 2025 | 7 replies
I'm working on getting my bigger pockets pro account finalized even though I've been a member for about 1.5 years.
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24 January 2025 | 3 replies
Sellers had multiple "accepted" offers and all were placed in interpleader accounts.
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17 February 2025 | 15 replies
Cable, smart TV's and guests sign into there own accounts
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20 February 2025 | 11 replies
That accounts for $940 per month of my $8,000 expenses.
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17 February 2025 | 9 replies
My custodian does not have a money market or similar sweep account to keep idle cash earning.