Don Darnell
Adding Capitalize Carrying Costs text to 1040X cost $2000…
Hi, I own an unimproved lot and capitalize HOA fees and property taxes every year to increase the property basis by amending my taxes and adding something like the following “magic” text as required by the IRS:
“For ...
Tyler Gilpin
Keeping Track of financials on rentals
How do you guys keep track of the financials for your portfolio? Cashflow, how much you have left on mortgage, etc. Lay everything out in Excel or do you use an app?
Scott Levin
Owner Financing, Tax minimization / Installment Sale and Recommendations for Services
Hi,I have a house in Denver that I have owned and lived in for the last 27+ of 30 years. I now have a renter in there who may be interested in purchasing the house from me with likely owner financing. My 250K tax bene...
Jason Bowles
DIY Landlord - All in one management solutions
For the most part, I’m a one guy operation with 7 SFHs just south of Nashville, TN. I buy, rehab, rent, repair, manage, and mow my properties. Within the next 12 months, it’s my goal to add a small (10 or fewer doors)...
Dani Zee
How to structure one separate entity for marketing different rentals (held in LLCs)?
Hi, I've searched everywhere for hours can can't seem to find a good answer to this question. If I have different rental properties, each owned by a different LLC, what's the best way to market and do business with m...
Robert Stamper
Expense Tracking Software or Spreadsheets. Best Solution?
Hi All, My Wife, @Sarah Stamper is a flipper starting on her second property now. She does all her flips in a single member LLC to keep our taxes nice and simple. I was planning to get her set up with QuickBooks a...
Brent Logsdon
Bookkeeping software mgt
Hello, I'm looking for bookkeeping software that works with my real estate business and can work with my personal rental properties. Any recommendations?
Jon-Michael Veronesi
What’s a good alternative to QuickBooks for 30~ units?
QuickBooks just jacked up their prices again so I’m taking the opportunity to ask if there is a better (and cheaper) option for my apartment business out there. 30 units.Any suggestions?
Jonathan C.
Accounting Software/Program to Tag Expenses to a Specific LLC
Hey- so I'm bored even asking this question, but unfortunately this seems to be important according to the asset protection person I'm working with.I flip 20-30 houses a year. I'm going to be doing this in a Series L...
John Lamb
Top apps/software for landlords?
I just purchased my first rental property and I'm wondering what apps or software you use to keep track of the incoming rent, along with expenses of taxes, insurance and repairs? I know a simple notebook would work, b...