4min chapter

BiggerPockets Real Estate Podcast cover image

689: Landlord Tax Loopholes That’ll Help You Pay ZERO Taxes in 2022 w/Matt Bontrager

BiggerPockets Real Estate Podcast

CHAPTER

The Importance of Bookkeeping

The first thing that you need to do when starting a business is dial in your bookkeeping. Properly understanding how much cash flow is going into your business, how muchcash flow is leaving, are you profitable? If you can use a spreadsheet and track your money in and out your expenses, your income, great. But I'm not affiliated with them but QuickBooks Online, they make it so easy. At what point should you convert over to something more robust, like a QuickBooks online account? And if you're willing to pay the gate of 20, 30 bucks a month for QuickBooks, I would come out with an accounting software because you're not in business to just start up

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