Rental income expense tracking is an essential task for every landlord. Tracking helps landlords determine the health of their business. It also makes tax time easier as the rental property income and expense data is necessary to fulfill IRS requirements. For example, landlords usually need to complete Schedule E of Form 1040 for income tax purposes.
Expensive property management software like Renttec Direct or Buildium is overkill for the small landlord because it generally costs more in time and money than it is worth. On the other hand, a simple Excel spreadsheet is not nearly powerful enough because it cannot easily generate the different reports landlords need.
Easy to use and understand rental income expense tracking for landlords is highly desirable. Qualities of a great tool for landlords also include easy to generate reports like a profit & loss statement and an affordable price tag. Free is almost always the best!
RentalIncomeExpense.com is the best solution for landlords:
- Simple to setup
- Designed for landlords
- Reports that matter (e.g., profit & loss and Schedule E helper)
- Accessible from your smartphone
To setup a free account, get started at www.RentalIncomeExpense.com today!