Question from Michael J.
I just got your program in December.
I have 15 units.
– 2 single dwellings,
– 2 duplexes,
– 1 4plex,
– Victorian with 5 units.
I currently use Excel documents to keep track of stuff. tax season is not fun for me or my CPA.
I agree, this will make your tax time a breeze.. the hardest part is your transition and getting all set up properly
Would it make sense for me to input this year’s stuff from January to December.
– of course for 2017, but I assume you mean for 2016?
Realistically how long would it take me to do that?
– using your info above… in Investor Books you have 6 properties… (6 tax bills)
– take a look at your bank statements for all of 2016
– bet you have a dozen or transactions per month, unless you had a rehab or two.
– using the “dozen” of transactions per month, I could enter a monthly statement in about 20 minutes going very slowly
– 20 minutes x 12 months = 240 minutes divided by 60 min = approx 4 hours MAX
– Michael, I trust you are very anal about your real estate business, and just like you, I too would all of my data in there for the whole year of 2016.
– NOTE – You do NOT create a class for each unit – You create a class for EACH PROPERTY that has a tax bill.
Would it make year-end enough easier for me and my CPA?
What would you do?
– Yes, Yes, and more yeses!!!