Simplify’Em will do the following tasks for you:
1)Helps Maximize Your Tax Savings
-The software will automatically alert you to commonly overlooked write-offs that you may not know about, which will help you save as much as you’re entitled to when tax season arrives
2)Keeps Track of Tenant Information and Rent Payment History
-Notifies you when leases are about to expire
-Keeps all your tenants’ information in one place
-Automatically sends a reminder email to each tenant 3 days before rent is due
-Sends notice of late payment when your tenants don’t pay rent on time
-Automatically charges late fees for late payments
3)Keeps Track of Cashflow
-Allows you to input income and expenses for each property
-Recurring income and expenses are tracked without need for repetitive data entry
-Creates Cash Flow Reports for one or multiple properties to let you know how much money each property is making and spending
4)Creates Tax Reports For You
-As you specify your property’s income and expenses, the software sorts each transaction into the proper IRS category
-Automatically creates a tax report for you (all you need to do is copy over your mortgage interest, as year-end adjustment)
-Generates a Schedule E
The software is easy to set up. Simply add your property (or properties), customize the worksheet for each property, and start entering the data associated with each property.
This software has both Free and Paid options. Click here to give the software a free test drive.