Ari S.
Paying vendors electronically
Hello BP!
I have been driving over to physically give my contractors checks but want to set something up electronically.
What are the best services folks have been using? Venmo?
I like to pay my contractors quickly ...
Glen Dall
Procedure for collecting cert's of insurance/agreements from subs
We have three different entities (for legal and ownership purposes), and are doing rehabs, new construction and remodeling. I'm looking for a good procedure to track our sub-contractor agreements and their certificate...
Brian Whitney
Personal Mortgage vs LLC - Bookeeping and Accounting Question
Hi All, Last year I did my first BRRRR on a duplex, which I refinanced in my name. I'm finishing a 3 unit BRRRR and will most likely put this one into an LLC. I would like to separate my name from the duplex and start...
Yi Chu
How to record mileage
What are the common ways to record mileage (for example, from primary home to investment property due to repairs or property management) for tax saving purpose, which are acceptable to IRS?
Sean O'Keefe
PMs don't create pain for rental owners to get tax and financial info?
I recently spoke to a property management firm that told me their clients don't experience any pain with financials or taxes Jan - April.
I'm curious,
Is this PM out of touch with reality OR on how rental property...
Andrey Y.
Deducting my $800 appraisal fee (X2) as an expense for the year
I was just doing my taxes and I realized I had paid for two appraisals ($800 a pop) for two refi's in 2019. Of note, I paid them with a credit card and they didn't appear on the settlement statement at the end.If I ca...
Amanda Young
Do you have a separate bank account for each property?
Closing on my second rental next week! And in setting up all the paperwork, I'm wondering what are the pros and cons of having one bank account for all properties vs. having separate bank accounts for each. The main ...
Mark Payne
Jump to LP to get more depreciation?
I am currently trying to buy one $400k single family rental in my area of Sacramento, CA every few years. I am currently just deprecating on basic 27.5 years. I am starting to generate more passive income from anoth...
Marc Estepa
Attn Tax Professionals! Need guidance with business tax write off
As a landlord currently managing properties, everyone says that you are running a business. In doing so, do you get all the traditional protections and tax write offs as any other business owner? Doing my taxes last ...
Trish Mccoy
STR accounting software
I'm sure this have may been discussed before, but I missed it. I currently use Excel to track all my rev and expenses - I have 11 doors - mostly STR and a few LT. I need something better to keep track of things. ...