Make sure your accountant specializes in real estate taxation.

How have they accounted for reserves / contingency when things don't go as planned. 

When you file your taxes at the end of the year the accountant is going to ask you for your receipts or what and how much you want to write off using deductions.

But the NAHB also reiterated evidence of an ongoing labor shortage, saying, “The ongoing skilled labor shortage in the construction labor market and lingering inflation impacts account for the recent acceleration in wage growth.”For now, the hot market is still rolling.

Posting goals here on this thread can help to act as a form of accountability. 

It may seem easy to jack up rent but there is something to be said about good, on-time paying tenants.As an accountant, I always rely on the numbers.

We all do the same thing, we just call ourselves different names and carry similar but different licenses:- CPA - Certified Public Accountant- EA - Enrolled Agent - Accountant - Tax advisor - Tax strategist- Tax consultant - Tax plannerIt all means basically the same.

For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work.

The reason for this email is that we need to schedule a call with a representative about our direct deposits to our bank account, we keep having the same problem every month.

For those of you that have good w2 income and want to take advantage of employer matching (100% return!), how do you tap into that money to scale your portfolios?  The way I'm looking at it, if my spouse and I only do...