Are Irs Form 13844 Pros 2025

Hey, this is Clint with Rent Like a Pro. In this video, we're going to talk about taxes, not the bad ones you have to pay, but the advantages you can use as a landlord and a human. We all hate taxes, of course we do, right? Well, if you set it up right, you should know that real estate has a lot of tax advantages. So we're going to show you how to set this up right from the beginning. Remember, your property is a business, so you want to treat it like one. Here are a few tips to getting set up in the right place. First, make sure you're using separate books or a tracking system, or even a bank account for all your expenses. Second, track every single expense you have related to taking care of your property, everything. And third, unless you're an accountant, use one and consult with one throughout the year while managing your rental properties. Here's your Rent Like a Pro insider tip. Tracking expenses is key. Get a separate debit card or credit card so you can keep them all separate and run them through one. Personally, I like to run all of my expenses through the same account on the same card so that it's all easy to hand over to the accountant. Saves me time with my accountant as well, which is also money. Pros track everything, but we also keep it simple. There are a lot of good apps and websites out there for tracking expenses. I even have one where I snap pictures of my receipts, things like that, right on my cell phone. Tracking every single expense related to the property rental. Real estate provides more tax advantages than almost any other investment, and these advantages can be...