Principal Paydowns Archives

62 min Video

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Your 7 MUST Year End Things To Do In Your Business BEFORE End Of Tax Year.

 The BIG PICTURE – Carefully Review Your QB REPORTS FIRST and Make adjustments BEFORE reviewing this year’s performance and set new goals for next year, including Tenants, Loan Customers, and Property Management

URGENT – To Capture EVERY PENNY in Tax Deductions

– You MUST do this BEFORE midnight Dec 31

 How to determine your REAL Taxable Income in 3 minutes or less using Fred Flintstone’s 3 finger calculator (depreciation)

 “Unclassified” Report is magic for you

STEP 1 – Transforming Your CASH FLOW Report into a TAX SUMMARY Report

 1099s, 1098s, 1096s, 1097s, – All made brain-dead simple

 Balance Sheet – What is it and How to Use It Right Now for YOUR BENEFIT

 Capitalized Expenses – this monkey throws a big wrench in at tax time for most investors. See how to tame this monkey and maximize your tax benefit

 Principal Paydowns – done the simple way – how to make this process simple and easy along with the explaining the IRS new red flag of mortgage interest vs. interest.

 

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Hey Mike,

Thanks for getting me everything with The Investor Books PRO System with Tenant Tracking. I have already started playing around with InvestorBooks and think it will address my needs quite well. Today, I was successful at setting up each one of my properties as fixed assets as well as mortgages, escrows and some bank accounts according to the manual. So progress!

I was wondering what the best way was to ask questions. Right now, I have few questions.

1) On page 128 of the InvestorBooks manual, it has instructions on how to adjust the register for the mortgage to record principal reductions at year end. Everything makes sense except it indicates that one should remember to enter the class (i,e property) in the register at the bottom of page 128. Problem is —the register does not have a field for “class”. I called Quickbooks support and they told me that there was no way to get a field in the register for “class”. The way the sample report in the manual shows mortgage payments is broken down by principal and interest. This suggests that there must be a way to insert a “class” field in the register. I was wondering whether you might have some insight into how I can get “class” as a field in the register.

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