Depreciation is a non-cash deduction real estate investors use to reduce or sometimes completely eliminate taxable net income from a rental property. In most cases, an investor must depreciate improvements…
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Are utilities tax deductible for rental property?
One of the many benefits of owning a rental property is being able to deduct normal operating expenses from gross rental income to reduce taxable net income. Utilities are generally…
A free and simple short-term rental spreadsheet template
There are a tremendous amount of transactions to keep track of with a short-term rental (STR) property. Guests come and go every few days, cleaning and repairs need to be…
Tools to help you manage your vacation rental bookkeeping
Some of the biggest benefits of owning a vacation rental include generating extra income, building equity through long-term appreciation, preparing for retirement, and claiming deductions to keep taxes as low…
How to set up your rental properties in QuickBooks Online
There are a number of ways to keep track of rental properties, including spreadsheets, software specifically designed for real estate, and general purpose accounting software like QuickBooks Online. QuickBooks was…
How to make a rental property chart of accounts in QuickBooks
Although accounting may be the last thing an investor wants to do, the truth is that it’s an important part of owning and operating rental property. A good rental property…
How to record your rental income in QuickBooks
Total revenue for real estate and rental and leasing reached nearly $223 billion, setting an all-time record high, according to the most recent data from the Federal Reserve. Even an…
17 Best Vacation Rental Accounting Software Options for 2024
If you’re an Airbnb host or manage properties on other booking platforms, you’ve likely discovered that these online marketplaces, while excellent for getting your property in front of potential guests,…
Stessa vs QuickBooks: Which is better for your properties?
QuickBooks has been around for nearly 40 years, and is a brand name that many people are familiar with. While the software is general purpose, it can be used for…