Has anyone used QuickBooks for their property management accounting? I'm trying to decide if it's worth the monthly cost or if I should just stick with Excel spreadsheets.

Great question! I've been managing properties for about 3 years now and can confirm what others have said - you only report your management fees ($750/month) as business income, not the full rent amounts that pass through to owners. One thing I'd add is to make sure you're consistent about when you recognize income. Since you mentioned cash basis, you'll report the management fees when you actually receive them, not when they're earned. Also, don't forget you can deduct business expenses related to your management activities - things like mileage for property visits, supplies for maintenance coordination, phone/internet costs for the business portion, etc. I'd highly recommend opening a separate business bank account for your LLC right away, even before you officially start managing properties. It makes everything so much cleaner when tax time comes around. Good luck with your new venture!

Quick question about depreciation start date for a multi-unit building - if I bought my fourplex in December 2023 but the tenants didn't move in until January 2024, when do I start depreciating? From purchase date or when it was "placed in service" with actual tenants?

Great question about multi-unit depreciation! I went through this exact situation with my duplex a couple years ago. You're absolutely right to treat the entire building as one depreciable asset - no need to split it by individual units. The key thing is separating out the land value from the building value, since you can only depreciate the building portion. For your $475,000 purchase, you'll need to determine how much was land vs. building. Your property tax assessment is usually the easiest way to get this allocation. Once you have the building value, you'll depreciate it over 27.5 years using straight-line depreciation. Regarding your $28,000 in improvements - the roof would typically be depreciated over 27.5 years as part of the building structure, while the HVAC system might qualify for shorter depreciation (5-7 years) since it's considered equipment with a shorter useful life. One tip: consider looking into cost segregation if your improvements are substantial. Some components like appliances, flooring, and certain fixtures can be depreciated over shorter periods (5-7 years instead of 27.5), which gives you larger deductions in the early years. Make sure to keep detailed records of all improvements and their costs - you'll need this for Form 4562 and Schedule E. The IRS loves good documentation!

I've been following this thread closely because I'm dealing with the exact same nightmare with the IRS Online Payment Agreement system! It's actually somewhat comforting to know I'm not the only one hitting these constant error messages. After reading through everyone's experiences, I'm planning to try the Free File Fillable Forms approach that several people have had success with. It makes sense that it would work since it's running on different infrastructure than the broken main system. One thing I wanted to add that might help others - I noticed that when I was getting the error messages, sometimes the system would actually partially process my information even though it showed an error. I discovered this when I tried to start a new application and some of my info was pre-filled. So if you're switching to the Free File method or calling the IRS, you might want to mention that you've attempted the online application multiple times in case there are any partial records in their system. Thanks to everyone who shared their workarounds and experiences - this thread has been more helpful than hours of fighting with the IRS website! It's frustrating that their main system is so broken, but at least we have alternatives that actually work.

I just wanted to jump in and say thank you to everyone who's shared their experiences and solutions in this thread! I've been battling the same IRS Online Payment Agreement errors for over a week now, and this community has been incredibly helpful. Based on all the feedback here, it's clear this is a widespread technical issue on the IRS side that started a few weeks ago after a security update. I'm going to try the Free File Fillable Forms approach that multiple people have confirmed works - it seems like the most reliable workaround since it uses different infrastructure. For anyone else just finding this thread, here's what I've learned from reading through all the responses: - The main Online Payment Agreement system is broken for many people - Free File Fillable Forms (Form 9465) is working and is IRS-recommended as a workaround - Calling the IRS works but expect long wait times on the main line - The Practitioner Priority Service line (1-866-860-4259) has shorter waits - The IRS is being understanding about delays caused by their technical problems It's frustrating that such a critical system is having these issues during tax season, but at least we have alternatives that actually work. I'll report back on how the Free File approach goes for me!

This thread has been incredibly helpful! I'm in a similar situation with my FSA - making about $85k annually and getting frustrated with admin issues, but after reading all the math breakdowns here, I'm definitely keeping mine. One thing I wanted to add that might help others - if you're having trouble with receipt uploads getting rejected for "image quality," try using a document scanner app like CamScanner or Adobe Scan instead of just taking photos. These apps automatically enhance contrast and straightness, which seems to pass the FSA systems' automated checks more reliably. Also, I've found that submitting claims in smaller batches (3-4 receipts at a time) rather than uploading everything at once reduces the chance of the whole batch getting rejected for one problematic receipt. It's more work upfront but saves the headache of having to figure out which specific receipt caused the rejection. The tax savings really are substantial - even at my slightly lower income, I'm saving around $800-900 annually, which definitely makes the administrative hassles worth dealing with strategically.

As someone who's been maxing out my FSA for the past 5 years, I can definitely relate to the admin frustrations! But the tax savings are too significant to walk away from at your income level. One strategy that's helped me deal with difficult FSA administrators: create a "claims kit" at the beginning of each year. I set up a dedicated email folder, a simple spreadsheet template, and even pre-write standard appeal language for common rejection reasons. When you know the system is going to be problematic, being over-prepared actually saves time. Also, consider timing your submissions strategically. I've noticed my FSA admin is much more responsive in January/February when they're not swamped with year-end claims. Submitting routine expenses early in the year when their systems are less stressed has reduced my rejection rate significantly. At $130k household income, you're looking at real money here - that $1,000 in tax savings could cover a nice family vacation or boost your emergency fund. Don't let a bad administrator cost you legitimate tax benefits. The key is going in with systems and realistic expectations about the process.

This is such a common issue that happens to tons of people every year! Companies absolutely can and will disable your ADP portal access after you leave - it's actually required by most data security policies, not anything personal against former employees. Your employment records are still there in their systems, but your login gets shut off usually within 24-48 hours of termination. Your sister-in-law is definitely doing the right thing by planning to contact HR directly. They're legally obligated to get her that W-2 by January 31st. I'd recommend she email them (so there's documentation) and ask two specific questions: 1) Do they have her current mailing address on file? and 2) Do they use a different portal or system for tax documents than the regular ADP payroll system? That second question is really important - I've seen so many cases where people panic thinking their W-2 is missing, but it turns out the company just uses a completely different vendor or portal for tax forms. Worth checking before assuming the worst! If she doesn't hear back or receive anything by mid-February, that's when she should call the IRS at 800-829-1040. They'll reach out to the employer directly. And hopefully she kept that final December pay stub - it's got all the year-to-date info she'd need for a substitute W-2 form if it comes to that. Don't stress too much about this one - it's way more common than you'd think and almost always gets resolved once you know the right steps to take!

This is definitely frustrating but completely normal! Companies routinely disable former employees' ADP access after termination - it's standard security practice, not anything shady. Your employment records still exist in their system, but personal login access gets revoked quickly. Your sister-in-law should email HR directly (keep that paper trail!) since they're legally required to provide her W-2 by January 31st. Two key things to ask: 1) Is her current address on file? Many "missing" W-2s are just mailing issues. 2) Do they use a separate system for tax documents? Some companies use ADP for payroll but a different portal entirely for W-2s. If she doesn't receive it by mid-February, she can call the IRS at 800-829-1040 to report the missing W-2 - they'll contact the employer directly. As backup, if she kept her final December pay stub, it contains all the year-to-date totals needed for Form 4852 (substitute W-2) if absolutely necessary. This happens way more often than people realize, so don't stress too much - just work through the proper channels and it'll get resolved!