Paperwork on Your Investments
How good are you at keeping your paperwork in order?
How much extra does it cost you in accounting fees because you’ve failed to keep your paperwork in order? B-o-r-i-n-g! I know!
Nothing like the excitement of buying a new property, and nothing like the hassle of keeping your paperwork up-to-date, right?
Why waste extra money on accountancy fees when all it takes is a little discipline to file your paperwork correctly. Keep all of the documents for each property separate, and make sure that your bank statements are clarified by code as to the expenses of each property.
If you don’t have a basic bookkeeping program, use Exel to keep your figures up to date.
And here’s another incentive: sloppy paperwork can stop you from getting all your due tax deductions.
Filed Under: Property Investment
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