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Elevate Your REI Business with EverTrust Bookkeeping
Bookkeeping for Real Estate Investors, Flippers, Wholesalers, Landlords (LTR/STR), Realtors, Brokers, and Service-Based Businesses. 
We help you effectively track projects and properties, implement streamlined processes, and keep your finances investor-ready—so you can focus on growing your business.

Bookkeeping for Real Estate Investors & Service-Based Businesses

Services

Our Bookkeeping Services

<ul>
<li>Categorizing income and expense</li>
<li>Reconciling bank and credit card accoutns</li>
<li>Record and Track depreciation and amortization</li>
<li>Preparing finaical starements (Profit &amp; Loss, Balance Sheet, Cash Flow)</li>
<li>Ongoing Support</li>
</ul>

Accountant woman working on laptop and do document, tax, exchange, research, accounting and Financial advisor concept

Monthly Bookkeeping

<ul>
<li>Updating months (or years) of incomplete bookkeeping</li>
<li>Correcting erros and organizing records</li>
<li>Preparing clean, tax-ready financials</li>
</ul>

Catch-Up and Clean-Up Bookkeeping

<ul>
<li>Custom Chart of Accounts</li>
<li>Intial QuickBooks setup</li>
<li>Import of exisitng data</li>
</ul>

tax return: Files and folders in desk drawer with labels and tabs: Home office management

QuickBooks Setup

Team members

QuickBooks ProAdvisor with specialized expertise in Real Estate Investing (REI), offering customized charts of accounts built specifically for REI—fully optimized to work seamlessly with QuickBooks.

Our Initial Process

<p>Call, email, or submit a contact request, and we’ll get in touch to discuss your bookkeeping needs. <br /> </p>

Step 1: Contact Us Today

<p>We’ll conduct a thorough review of your accounts to establish a timeline, confirm your monthly estimate, and determine any necessary one-time upfront fees if applicable.</p>

Accountant reviewing invoices and financial documents at office desk

Step 2: Assess & Estimate

<p>You no longer stress about your bookkeeping or  tax season and you know exactly where your money is going.</p>

Group of business people working in office.

Step 3: We work together

Our Process After We Partner

<p>We securely gather your bank and credit card statement monthly via automated software or a secure portal.<br /> <br /> </p>

Step 1:                               Document Collection

<p>We do your bookkeeping in Quickbooks, then send you financial reports that are clear and easy to understand.</p>

Organized Office Desk with Shelves of Colorful Binders

Step 2: Bookkeeping & Delivery

<p>You review the financial statements and we have consultations as needed. </p>

Step 3: Review & Consultation

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<h2>Bookkeeping for Real Estate Investors &amp; Service-Based Businesses</h2>
<h2>Tailored to fit your unique needs.</h2>

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      <h3>Get in touch</h3>
      <p>Send us a message and we'll get back to you as soon as we can.</p>
    

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Recent blog posts

2024 Tax Sign with Coins on a Financial Data

<h2>Understanding the Basics of Tax Day</h2><p>As Tax Day approaches on April 15, 2024, both real estate investors and small business owners need to gear up for the annual ritual of filing taxes. It’s crucial to have a comprehensive strategy in place to ensure compliance and maximize deductions. The tax landscape can be tricky, but with the right preparation, you can navigate it smoothly.</p><p>For real estate investors, understanding your obligations and potential deductions can significantly impact your bottom line. Similarly, small business owners must be aware of various credits and deductions that can reduce their taxable income. Here are some essential tips to help you prepare for Tax Day effectively.</p><figure id="figure-3ii4hgdx1m9ne0zr3"><img id="3ii4hgdx1m9ne0zr3" src="https://cdn.durable.co/getty/3anqNyYtuHhpaH3PbDcdnDw6AEqs69rB46JnPecPbncUYFJ0YWKcsgp5ktm45n2b.jpeg" alt="tax paperwork" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/3anqNyYtuHhpaH3PbDcdnDw6AEqs69rB46JnPecPbncUYFJ0YWKcsgp5ktm45n2b.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Maximizing Deductions for Real Estate Investors</h2><p>Real estate investors have several opportunities to reduce their tax burdens through various deductions. One key area is depreciation, which allows you to deduct the cost of purchasing property over its useful life. Ensure you have accurate records and calculations for all properties in your portfolio.</p><p>Additionally, don't overlook expenses related to property management. This includes maintenance costs, repairs, and even travel expenses if you're managing properties in different locations. Keeping detailed records of these expenses will help you make the most of your deductions.</p><h3>Utilizing the 1031 Exchange</h3><p>The 1031 Exchange is a powerful tool for real estate investors looking to defer capital gains taxes. This provision allows you to exchange one investment property for another without immediate tax liability. However, it's essential to adhere strictly to the IRS rules regarding timelines and property qualifications.</p><figure id="figure-xf36qgu7hm9ne140t"><img id="xf36qgu7hm9ne140t" src="https://cdn.durable.co/getty/231P5ZZkSYsv3k25nWVIdErrbiWadsIkccqSqqtuG3R90QhzbkyRlaZtsd3114Pz.jpeg" alt="real estate investment" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/231P5ZZkSYsv3k25nWVIdErrbiWadsIkccqSqqtuG3R90QhzbkyRlaZtsd3114Pz.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Essential Tax Tips for Small Business Owners</h2><p>Small business owners have their own set of challenges when it comes to taxes. Start by ensuring that your bookkeeping is up-to-date and accurate. This will make it easier to identify potential deductions and credits that your business qualifies for.</p><p>Consider investing in tax software or consulting with a professional accountant who understands the nuances of small business taxes. They can help identify less obvious deductions, such as those related to home offices or startup costs.</p><h3>Leveraging Tax Credits</h3><p>Tax credits can significantly reduce your tax liability. For small business owners, this includes credits for research and development, hiring employees from certain target groups, or providing employee health insurance. Make sure you understand which credits apply to your business and how to claim them effectively.</p><figure id="figure-91w4fgid06m9ne16wu"><img id="91w4fgid06m9ne16wu" src="https://cdn.durable.co/getty/27rNYWpYSM8ezZR8AdN4UEtLbc441FltlKJRTUOxUrjjJpplOaL0FZYcW4qSbabB.jpeg" alt="small business owner" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/27rNYWpYSM8ezZR8AdN4UEtLbc441FltlKJRTUOxUrjjJpplOaL0FZYcW4qSbabB.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Planning Ahead for Future Tax Seasons</h2><p>While it's important to focus on the current tax season, planning ahead can save you time and money in the future. Consider making quarterly estimated tax payments if you're self-employed or have significant additional income. This can help you avoid penalties and manage cash flow more effectively.</p><p>Additionally, staying informed about changes in tax laws is crucial. Tax regulations can change annually, impacting deductions, credits, and filing requirements. Subscribing to updates from the IRS or consulting with a tax professional can keep you informed of any changes that may affect your tax strategy.</p><h3>Organizing Your Tax Documents</h3><p>Maintaining organized records is key to a stress-free tax season. Use digital tools or an old-fashioned filing system to keep track of receipts, invoices, and other pertinent documents throughout the year. This organization will simplify the process when it comes time to file your taxes.</p><p>By following these strategies, real estate investors and small business owners can tackle Tax Day 2024 with confidence and ease. Remember, preparation is key to minimizing stress and maximizing your financial benefits.</p>

2024 Tax Day Tips for Real Estate Investors and Small Business Owners

Closeup shot of an unrecognisable businesswoman calculating finances in an office

<h2>The Role of Bookkeeping Brokers in Business Growth</h2>
<p>As businesses strive for growth, maintaining accurate financial records becomes increasingly crucial. This is where bookkeeping brokers come into play. They provide specialized services that help businesses manage their finances effectively, allowing business owners to focus on strategic growth initiatives. But what exactly makes bookkeeping brokers so vital?</p>

<p>Bookkeeping brokers act as intermediaries between businesses and financial service providers. They offer expertise in managing financial records, ensuring compliance with regulations, and optimizing financial processes. By outsourcing bookkeeping tasks to these professionals, businesses can benefit from enhanced accuracy and efficiency in their financial management.</p>

<figure id="figure-ti6pzs3n2fm9j376jj"><img id="ti6pzs3n2fm9j376jj" src="https://media.gettyimages.com/id/2166667889/photo/senior-caucasian-multiracial-hispanic-woman-talks-with-colleagues-in-bright-modern-office.jpg?b=1&s=2048x2048&w=0&k=20&c=63bqYEaVpxrHnIqpUBl4iKTf_iu_L5yg4RlVaFwdSV4=" alt="financial management" class="object-cover bg-gray-100" style="aspect-ratio: 16/9"></figure>

<h3>Improved Financial Accuracy</h3>
<p>One of the primary benefits of hiring a bookkeeping broker is the improved accuracy of financial records. These professionals are well-versed in the latest accounting standards and practices, reducing the risk of errors that could lead to costly consequences. Accurate financial records are crucial for informed decision-making and strategic planning, making bookkeeping brokers indispensable in fostering business growth.</p>

<p>Furthermore, bookkeeping brokers help businesses maintain up-to-date records, providing a real-time snapshot of the financial health of a company. This timely information allows business leaders to make data-driven decisions promptly, which is essential for capitalizing on growth opportunities.</p>

<h3>Cost-Effective Financial Management</h3>
<p>Outsourcing bookkeeping tasks to brokers can be a cost-effective solution for many businesses. Hiring full-time, in-house accounting staff can be expensive, especially for small and medium-sized enterprises (SMEs). Bookkeeping brokers offer flexible pricing models that allow businesses to access expert financial services without the overhead costs associated with permanent staff.</p>

<figure id="figure-f1hz8pg7gpm9j376jj"><img id="f1hz8pg7gpm9j376jj" src="https://media.gettyimages.com/id/1166014726/photo/finance-banking-savings.jpg?b=1&s=2048x2048&w=0&k=20&c=E45szHWTYJKTqt-CufzzMAA0mxfNIinZrGRinePZEo0=" alt="accounting services" class="object-cover bg-gray-100" style="aspect-ratio: 16/9"></figure>

<p>Moreover, by eliminating the need to invest in expensive accounting software and continuous training for in-house staff, businesses can allocate more resources toward other critical areas, such as marketing and product development. This efficient use of resources contributes to overall business growth.</p>

<h3>Ensuring Compliance and Reducing Risks</h3>
<p>Another significant advantage of partnering with bookkeeping brokers is their ability to ensure compliance with various financial regulations. The landscape of business regulations is constantly evolving, and keeping up with these changes can be challenging for business owners. Bookkeeping brokers stay informed about the latest regulatory updates and ensure that businesses adhere to them, minimizing the risk of non-compliance penalties.</p>

<p>In addition to compliance, bookkeeping brokers play a vital role in risk management. They help identify potential financial risks and implement strategies to mitigate them, safeguarding businesses from unexpected financial setbacks.</p>

<figure id="figure-uvjsg777jm9j376jj"><img id="uvjsg777jm9j376jj" src="https://media.gettyimages.com/id/1141747853/photo/compliance-concept-magnifier-and-compliance-text-on-blue-background.jpg?b=1&s=2048x2048&w=0&k=20&c=mlzFXJfeb5laalnU4GgtPnhMwZQX8iGoGsJ4Qxnz32E=" alt="financial compliance" class="object-cover bg-gray-100" style="aspect-ratio: 16/9"></figure>

<h3>Focusing on Core Business Activities</h3>
<p>By entrusting bookkeeping responsibilities to professionals, business owners can focus on what they do best—running and growing their companies. Bookkeeping brokers take care of the time-consuming tasks associated with financial management, freeing up valuable time and resources for entrepreneurs to concentrate on core business activities such as customer service, product innovation, and strategic partnerships.</p>

<p>In conclusion, bookkeeping brokers provide essential services that support business growth by ensuring accurate financial management, offering cost-effective solutions, ensuring compliance, and allowing business owners to focus on their core competencies. Leveraging the expertise of these professionals can be a strategic move that drives sustainable growth and long-term success for any business.</p>

Why Bookkeeping Brokers Are Vital for Your Business Growth

<h2>Understanding the Basics of Bookkeeping</h2>
<p>For house flippers, keeping track of financial transactions is crucial for success. Bookkeeping may seem daunting, but understanding the basics can make the process manageable. Start by familiarizing yourself with fundamental accounting terms like assets, liabilities, income, and expenses. These concepts will form the backbone of your financial records.</p>

<p>Invest in a reliable bookkeeping software tailored for real estate businesses. Such software can help you maintain accurate records, generate financial reports, and ultimately make informed business decisions. Some popular options include QuickBooks, Xero, and FreshBooks.</p>

<figure id="figure-6ipusiqd7m9aikfq5"><img id="6ipusiqd7m9aikfq5" src="https://media.gettyimages.com/id/1395493504/photo/real-estate-agent-working-on-office.jpg?b=1&s=2048x2048&w=0&k=20&c=1t3ZPDyIkW3U_WEB1iLIAWsRuzpZbGxPqLaLZ2NG_tQ=" alt="house flipping bookkeeping" class="object-cover bg-gray-100" style="aspect-ratio: 16/9"></figure>

<h2>Setting Up a Chart of Accounts</h2>
<p>A well-organized chart of accounts is essential for tracking your financial activities. This tool categorizes all your transactions into various accounts, such as revenue, costs, and expenses. For house flippers, your chart of accounts might include categories like acquisition costs, renovation expenses, holding costs, and sales proceeds.</p>

<p>Regularly update and review your chart of accounts to ensure it aligns with your business activities. This proactive approach will help you track the profitability of each flip and monitor the overall health of your business.</p>

<h3>Tracking Expenses Accurately</h3>
<p>Accurate expense tracking is vital for successful bookkeeping. Keep detailed records of all expenditures related to each property. This includes purchase costs, repair and renovation expenses, holding costs like insurance and property taxes, and selling costs.</p>

<figure id="figure-wz0ia39zogm9aikfq5"><img id="wz0ia39zogm9aikfq5" src="https://media.gettyimages.com/id/2195205853/photo/close-up-woman-hands-calculates-on-calculator-for-personal-finance-paysckeck-paper-receipt.jpg?b=1&s=2048x2048&w=0&k=20&c=Z7qaO0ON3MMfTf2ySEa9atQ7W-NO8OpqUhSydUegzgc=" alt="expense tracking" class="object-cover bg-gray-100" style="aspect-ratio: 16/9"></figure>

<p>Utilize digital tools to streamline expense tracking. Apps like Expensify or Receipt Bank allow you to digitize receipts and categorize expenses on the go. This reduces the risk of losing important documentation and eases the process of financial reporting.</p>

<h2>Managing Cash Flow</h2>
<p>Effective cash flow management is critical for house flippers. Without a steady cash flow, even profitable projects can struggle to stay afloat. Start by creating a cash flow forecast that outlines expected income and expenses. This will help you anticipate financial needs and avoid potential liquidity issues.</p>

<p>Regularly compare your actual cash flow against your forecast to identify discrepancies and adjust accordingly. This practice ensures you have enough funds to cover unexpected costs and capitalize on new investment opportunities.</p>

<figure id="figure-kxuh150p5um9aikfq5"><img id="kxuh150p5um9aikfq5" src="https://media.gettyimages.com/id/481558570/photo/money-puzzle.jpg?b=1&s=2048x2048&w=0&k=20&c=d1rlT-KuC4z33kcdeUsPaP7QVCR5fOoqUh2KsZzKo_A=" alt="cash flow management" class="object-cover bg-gray-100" style="aspect-ratio: 16/9"></figure>

<h3>Implementing a System for Invoicing and Payments</h3>
<p>Timely invoicing and payment collection are essential to maintain a healthy cash flow. Develop a system for sending invoices promptly after completing work or achieving project milestones. Clear communication with contractors and vendors about payment terms can prevent delays.</p>

<ul>
  <li>Utilize online invoicing platforms like Wave or Zoho Invoice to simplify the process.</li>
  <li>Automate reminders for overdue invoices to ensure timely payments.</li>
</ul>

<h2>Regularly Reviewing Financial Reports</h2>
<p>Regularly reviewing financial reports is crucial for understanding your business's performance. Key reports such as profit and loss statements, balance sheets, and cash flow statements provide insights into profitability and financial stability.</p>

<p>Schedule monthly or quarterly financial reviews to assess your progress toward business goals. Use these insights to make data-driven decisions that enhance profitability and growth. Collaborating with a professional accountant can also be beneficial in interpreting these reports effectively.</p>

Bookkeeping for Real Estate Investors & Service-Based Businesses

Our Bookkeeping Services

QuickBooks ProAdvisor with specialized expertise in Real Estate Investing (REI), offering customized charts of accounts built specifically for REI—fully optimized to work seamlessly with QuickBooks.

Our Initial Process

Our Process After We Partner