How to Manage Your Taxes and Stay Compliant: Intro
With all this rental income coming in, things are going well.
But when it comes tax time, you need to make absolutely sure that you’re ready.
Otherwise, you could end up owing Uncle Sam more than you should and ultimately reducing your profits.
That’s where this section comes in.
We’ll cover everything you need to know about how to properly handle your taxes, including:
- IRS tips for good record keeping: rental income and expenses
- How to get your annual taxes done
- Ways to reduce your tax burden as a real estate investor
- How to use 1031 exchanges to defer capital gains tax
- And additional tips for staying compliant with your business accounting
Time to get your taxes done!