Good bookkeeping is the most underrated way to hammer the IRS and save thousands on your tax bill. Taxes isn’t the sexiest topic in real estate, but it’s the easiest way to put more cash in your pocket without working harder. It’s the easiest way to save more money in your bank account without giving it to the greedy politicians who spend it on who knows what!
The second reason why its important to have good books is to be able to print reports and calculate profits and losses for yourself and your partners so you know exactly what’s going on. In short, you can’t manage what you can’t measure… this course will allow you to always measure your income and expenses.
The third reason, and it’s a big one, is if you get audited or sued, the fastest way to lose your corporate protection is to have bad books. If you are “robbing Peter to pay Paul” so to speak, you will be guilty of commingling and give the court or the IRS auditor an excuse to set aside the corporate form and go after you personally. Don’t fall into this lethal trap – take control of your money and your records.
The Real Estate Investor’s KISS Guide to Bookkeeping includes a “plug in” diskette that works with QuickBooks, Pro Version 2006 and later (sold separately). Using QuickBooks saves you lots of TIME, because the computer performs the tedious, time-consuming calculations and quickly summarizes relevant information for you. The “plug in” customizes QuickBooks specifically for real estate, mobile home, and note investing.
No experience needed! This course is designed for the real estate, mobile home, or note investor who has little or no accounting, tax, or QuickBooks knowledge. There are many different ways to do the same thing. This course teaches you just one way to do things, over and over and over again. That keeps things simple and drives home the lesson for non-accountants.
For People Who HATE Accounting. Most real estate investors are far more interested in making money on deals than in learning the intricacies of tax law and accounting entries. This book is for you.
Most people learn best by example. Lots and lots of them are included in the book. You still should read the text. But to help you put it all together, there are plenty of examples with numbers plugged in. And the examples are written in plain English, not “taxese.”
In The Real Estate Investor’s KISS Guide to Bookkeeping, tax attorney, accountant and real estate investor, John Hyre, shows you exactly how to do it, year after year, EVERY year, including: