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DEPARTMENT OF THE TREASURY INTERNAL REVENUE SERVICE Washington, D.C. 20224 SMALL BUSINESS/SELF-EMPLOYED May 1, 2012 Control #: SBSE-04-0512-046 Affected IRM: 220.127.116.11.1 Expiration Date: May 01, 2013
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hey there it's Aaron with time-saving templates and in this video I'm gonna go over a question that I get a lot which is what template would I recommend for your situation for tracking your rental properties and I have several options that are gonna depend on how you prefer to enter and track your data so I'm gonna go over that really quick so there's three main areas we're mostly going to be going over the number one which is tracking the rental income and expenses which is the most common challenge and also it has the most options to choose from the second and third templates there's really just one option for a deposit deposit tracking worksheet that includes a worksheet to track who paid which deposit it are you deducting anything from the deposit and also a refund form or you can list out the items you're deducting and how much is owed back and then also the rental analysis template is to compare three different properties and kind of gives you just ballpark estimates on what you could possibly get as a return on each property so you can kind of compare and decide which one is the better investment so those are two and three but I'm mostly gonna be going over the options for number one with the rest these are the three main options I have them a is the landlord's template which actually goes up to 30 properties now it can be used for short-term or long-term rentals B is the rental property management template and that works for either three or six properties and option C is for specific for if you rent through Airbnb the RBO or HomeAway so I'm gonna go over the options within each one of these options okay so the first one we're talking about is option a the landlord's template and really if you have up to 30 properties this is the only one that we'll we'll work for you no higher amount of properties but it's also very flexible you can use it for short term or long term and you enter the rental income as it occurs so you can enter as many times as you need to within one month different runners let me just show you a quick preview of that actual template so this is the landlord template and it has the different tabs at the bottom for each property so each property has its own page and then there's a summary page which lists out the annual totals but within the property pages it's going to have a monthly breakdown of total income and expenses and this is where you would enter the rental income and then you'd scroll right and enter the expenses which comes with a lot of categories and you have up to 8 blank categories if you want to add a new category you would add them here in rental 1 and they would automatically get populated in all the other pages and in the summary page you just have to enter it once so going back to the slide pretty much summed up everything with that now the different options within the landlord template you'll see that this was a 5 property...