By Christopher Haymon, Guest Blogger & Writer Are you considering getting into the world of commercial real estate development? If so, you’re in for an exciting and challenging journey. The life of a real estate developer can be filled with rewards and profits, but it’s not without its ups and downs. In this article shared…
Just a day after being notified that Sheldon Bookkeeping is a part of the QuickBooks Business Affiliates Program, we have received word that we reached Platinum status as a Certified QuickBooks ProAdvisor. “what a ride this has been!” And we are not done yet. We are planning to continue our work as a real estate…
Home Office Tax Deduction for Real Estate Investors For real estate investors, home office tax deductions are similar to those for other self-employed individuals. However, there may be some additional deductions that are specific to real estate investors. Here are some common home office tax deductions that may apply to real estate investors: Depreciation: Real…
Now available for free from Sheldon Bookkeeping: a Chart of Accounts for Real Estate Agents. This Chart (COA) is compatible with all versions of QuickBooks Online. It is for the smaller real estate agent business, as it does not include categories for employees. It does include accounts to categorize different sources of income as well…
Some real estate agents wait until it’s time to get their annual taxes filed, and then they scurry about trying to assemble a year’s worth of receipts, bills, and check stubs into some form of business financial records. Others plan ahead for tax day, by maintaining accurate, up-to-date financial records. Getting into business is easy…
New Rates for 2023 Released The Internal Revenue Service Service has announced the new 2023 mileage rates. The optional 2023 standard mileage rate for business, medical, and other uses of an automobile is 65.5 cents per mile. This is a 3-cent increase from the 62.5-cent rate that was set during the second half of 2022….
Using a QuickBooks Online feature called recurring sales receipts, landlords can easily set up and automate rent collection via credit cards or ACH. Once it is set up in QuickBooks Online, each month the tenant is automatically charged the rent payment. The tenant receives an email message and receipt for the rent payment. And the…
When setting up QuickBooks Online, in the Chart of Accounts, it is important to set up a special account to handle your Tenant’s Security Deposits. You can name the account anything (I recommend using Tenant Security Deposits. The type of account is: other current liability. This is important. The reason a tenant’s security deposit is…
The Real Estate Accounting is launched.! Designed to work with QuickBooks Online, this specialized bookkeeping service is for: Some of the features of Real Estate Accounting include being able to determine the profitability of each project, sale, or property. For landlords, the program includes the accounting of keeping security deposits separated from operating expenses For…
I have been developing a special Real Estate Accounting program. More information will be posted on this blog and my website soon. Realizing that people involved in the real estate business often have issues with maintaining the financial records in QuickBooks Online, I am about to release a program designed to help release estate investors,…
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