Stop Treating Your Rentals Like a Hobby
Spreadsheets are costing you money. We provide specialized accounting for investors who want clean books, maximized deductions, and zero tax-season stress.
A guide by Taxstra Tax & Accounting — CPA-led tax strategy for business owners
The Shoebox Problem
Why most landlords are leaving thousands on the table
Most landlords start with a spreadsheet or a shoebox of receipts. It works for one property. It creates a nightmare for three.
Without professional bookkeeping, you are likely making three expensive mistakes:
| Item | DIY Spreadsheet | Taxstra Bookkeeping |
|---|---|---|
| Depreciation tracking | Manual, error-prone | Automated per-asset schedule |
| Repair vs. improvement | Guesswork at year-end | Real-time classification |
| Per-property P&L | Aggregate only | Unit-level monthly reports |
| REPS hour documentation | Not tracked | Integrated time log support |
| Schedule E prep | April scramble | Done throughout the year |
| Cost seg integration | Not possible | Basis adjustments tracked monthly |
What We Track for You
Built for real estate investors, not generic small businesses
We don't just "do books." Each landlord engagement includes:
Property-Level Accounting
We track income and expenses per property. You know exactly which units are performing and which are draining cash—essential for Schedule E filing and portfolio decisions.
Depreciation Tracking
We maintain detailed fixed asset schedules: basis, accumulated depreciation, and potential recapture. Critical for Cost Segregation planning and accurate exit modeling.
Improvement vs. Repair Classification
We classify expenses in real time under the Tangible Property Regulations (TPR) to maximize immediate deductions. Don't capitalize what you can expense.
1099 Contractor Payments
Organized tracking of vendor payments so you have documentation ready for year-end 1099-NEC filings. Missing a 1099 can result in disallowed deductions.
Mortgage Interest & Property Tax
Allocated by property and documented for Schedule E. We integrate bank and loan statements automatically so nothing is missed — including the interest tracing records you need if you're using a HELOC against your rental's equity.
Security Deposits & Tenant Ledgers
Proper handling of tenant deposits—these are not rental income and must be tracked separately to avoid overstatement on your return.
REPS Hour Documentation Support
If you are pursuing Real Estate Professional Status, we help you structure and document your time log so your hours are defensible in an audit.
Accounting as Tax Strategy
Clean books are the foundation of every major deduction
Good bookkeeping is not just compliance—it is the infrastructure that makes your tax strategies work. Without it, you cannot claim the deductions you deserve.
REPS Tracking
To qualify for Real Estate Professional Status, you must log 750+ hours. The first thing the IRS requests in an audit is your time log. We help you track this from day one.
Passive Loss Unlocking
Suspended losses are an asset. We track your passive loss carryovers year over year so they are ready to offset gains when you eventually sell.
Short-Term Rental Loophole
Operating an STR? The depreciation rules are different. Your bookkeeping must prove average stays of 7 days or less to qualify for the STR Loophole.
1031 Exchange Preparedness
When you sell, you have 45 days to identify a replacement. You cannot waste 30 of them cleaning up your books. We keep you "transaction ready" at all times.
We Speak Your Language
Whether you manage 2 units or 200, we integrate with your workflow
We meet investors where they are. If you are on Excel, we build you a proper QBO setup. If you already use AppFolio or Buildium, we work with your exports. The goal is always the same: tax-ready books, every month.
Platforms We Work With
The Annual Workflow
Frequently Asked Questions
Common questions from landlords and rental property investors
This content is educational and does not constitute individualized tax advice. Tax rules vary by situation and may change. Consult a qualified CPA before making tax decisions.
Your Real Estate CFO
Maximize cash flow. Minimize tax liability. Know your numbers are right every month.
Find Out What You're Overpaying in Taxes
Book a free 30-minute call to walk through your situation. We'll tell you exactly how our CPA-led team can help — and whether we're the right fit.