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Summer Tax Prep: Why Now Is the Time to Get Ahead
What's in this episode
Send us Fan Mail Most landlords think about taxes in February. By then, the year is already over — and so are most of the opportunities to do anything about it. In this Shorty episode, we break down why summer is actually the smartest time to get your rental finances in order. You still have months left in the tax year, which means if you find a problem now, you still have time to fix it. We cover three things every self-managing landlord should be doing right now: getting your expense tracking current, understanding where you actually stand financially at the midpoint of the year, and building clean records before your end-of-year CPA conversation. We also share a personal story about missing a significant deduction — and why that mistake was too costly to fix after the fact. Plus, a quick look at how the right accounting system (QuickBooks, or a property management platform with built-in accounting) can make all of this happen in the background automatically — and why your choice of tool matters more than most landlords realize. Episodes & Resources Mentioned Episode 12: Our Experience With a 1031 Exchange, Would We Do It Again? Episode 18: 7 Ways to Increase Profit for Your Rent