Bookkeeping & Accounting Archives

Asset Class Life and Recovery Period Reference Sheet

Before rental property owners can calculate their depreciation for the year, they must determine an asset’s class life and recovery period, which are set by the IRS. We’ve put together a table showing common rental property assets and improvements along with their expected lifespans and recovery periods for you to use as a quick-reference guide!

Hiring a Bookkeeper for Your Rental Property Business

You’ve decided it is time to get a bookkeeper for your rental property business – but do you know where to start? It can be a lot to think about, so we’ve put together a guide to hiring bookkeepers for rental property owners.

Signs Your Books Aren’t Ready for Tax Time

Rushing through your tax prep for the year comes with risks, so we’ve put together a checklist of accounting red flags. If your records have any of these issues, your books may not be ready for tax time.