The beginning of a new year isn’t just tax time, its also an opportunity to review your accounting processes and make adjustments to get the new year started off right!
Double-entry accounting may sound more difficult at first- but it is the standard for a reason! Read on to learn more about how double-entry accounting can minimize errors, eliminate the need for duplicate transactions, and increase the chances that your rental property books balance!
Whether you’re interested in flipping one property or starting a business dedicated to house flipping, it’s important to have a good accounting system in place!
House hacking is a popular way to get started in real estate investing – and for good reason! But since house hacking inherently blends personal and rental costs, there are some implications for your accounting that you should be aware of, especially at tax time.
Every rental property investor takes depreciation deductions on their taxes every year, but not every investor knows exactly what that means or where those numbers are coming from. Read on for a primer on rental property depreciation!
We’ve compiled a glossary of the most common accounting terms associated with rental properties – check it out now!
Are the repairs at your rental property an Expense or a Fixed Asset?
How to translate the line items from your closing statement into a proper journal recording the purchase of your property
Answers to the most common questions on the do’s and don’ts of accounting for security deposits
Mortgage payments aren’t exactly an expense- they are a loan repayment, interest expense, and escrow transfer, all at once.
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