For that we needed the assistance of a skilled, real-estate-savvy bookkeeper!

For many reason related to your lease, bookkeeping, and landlord-tenant relationship, let the maintenance be a stand alone transaction.

The safe harbor applies to amounts paid during the tax year to acquire or produce what the regs call a “unit of property” (UOP), you must meet these requirements: (1) at the beginning of the tax year, the taxpayer has written accounting procedures treating as an expense for non-tax purposes amounts paid for property costing less than a specified dollar amount (which will be 2500 for you), or with an economic useful life of 12 months or less;.(2) the taxpayer treats the amount paid for the property as an expense on its books and records in accordance with its accounting procedures. ( do this on your bookkeeping software or whatever you utilize)(3) the amount paid for the UOP doesn't exceed $2,500. as substantiated by invoiceNote: The cost for the Unit of Property includes l additional costs (for example, delivery fees, installation services, or similar costs) if these additional costs are included on the same invoice with the tangible property.Eg:A purchases 100 printers at $500 each for a total cost of $500,000 as indicated by the invoice.

Also, if there are any investors/developers in Chicago, IL. who are in need of a bookkeeper and/or an assistant, I would love to meet with you and discuss where I can be of assistance and what I can help accomplish.Thank you,Touré Smith

let you PM pay contractors, and then you don't have to deal with the hassle (...I think)This kind of headaches makes me#1 want a flat tax#2 stop buying more real estate due to the headache of paperwork/tax prep#3 grow a large enough portfolio so I can hire someone to do all the bookkeeping...all year.

You will also be paying extra to a bookkeeper to keep track of all those different account.

You should keep the receipts and you can save them in a bookkeeping system like quickbooks or Xero.  

Hi Mark,ipayrentez.com has electronic check payments, online bookkeeping, free vacancy posting, automatic payment reminders, maintanance request and more.

,I am a full time bookkeeper and can vouch for both quickbooks desktop and quickbooks online to manage your rental.

We have a mixture of residential and commercial investments in the Eastern panhandle of West Virginia, and are looking for a good CPA/tax specialist/possible bookkeeper moving forward to make sure that we are fully compliant while taking full advantage of all of the deductions, reductions, and write-offs available.