There are a lot of factors that go into successfully owning property. And one of the most important factors to an investor's success?
Rental property accounting.
Having a handle on your finances is a non-negotiable as a property owner. But if you're not a numbers person, staying on top of your rental property accounting can feel overwhelming.
Below you'll find everything you need to keep your rental property finances in order, including how to reduce your tax liability, how to keep track of your finances so you're not scrambling come tax time, and property tax deductions you might not know about—but can put a ton of cash back into your pocket.
What Investors Should Know About Dallas-Fort Worth Property Tax Rates
When it comes to buying properties, there are certain opportunities to cut costs and save money (like negotiating a better sale price or getting a deal on contracting services).
Use The Real Estate Professional Loophole To Reduce Your Tax Liability
There are plenty of benefits to being a real estate investor; there’s the opportunity to build wealth, to explore new markets, to create autonomy in your work.
Rental Property Accounting: 9 Tips to Keep Your Finances in Order (and the Tax Man Happy)
As an owner of rental properties, it’s crucial that you keep accurate financial records and stay on top of your accounting. When you own rental properties, there is a large number of financial transactions to keep up with.
How to Use the Like Kind Exchange (1031) for Rental Property
In order to qualify for a 1031 exchange, the new property needs to be purchased within a specific time frame after the original property was sold, and it needs to be managed as one transaction.
How to File Taxes on Out-of-State Investment Property
Taxes can become quite complicated when you own a rental property in another state or country. In fact, your rental income might be subject to both federal and state taxes.
Do Your Rental Properties Satisfy the 1% and 5% Rules?
Owning and managing a rental property isn’t cheap. There is a significant number of costs and if you don’t anticipate those costs, you could find yourself in the red.
4 Security Deposit Tips for Smart Landlords
Security deposits are funds you hold in case there’s more than typical wear and tear to your property when a tenant moves out.
10 Rental Income Property Tax Deductions You Can’t Afford to Miss
Of all the reasons to invest in Texas rental properties, one of the greatest reasons is the lack of state income tax. Depending on your tax bracket, you could save 1% to 13% in comparison to investing in many other states.
