Creating a Tax-Friendly Expense System for Rental Properties
Discover why relying solely on Schedule E for rental property expense tracking can lead to errors and missed deductions. Learn about common challenges like loan principal payments, security deposits, and capital improvements that don't neatly fit into IRS categories. Explore a structured two-layered approach that ensures accurate reporting, clear cash flow tracking, and proper asset management. Find out how this system benefits bookkeepers and property owners in maintaining IRS compliance and financial clarity.