If you’re investing in a property and want to get the most out of that investment, then we encourage you to try the Investment Property Income Statement. This template has everything you need to track your bills and create an income statement for tax purposes. You will also use the information to adjust your rent with inflation and so much more. This is just a neat and organized tool that can really help you keep track of managing your rental properties. It’s tough enough owning one house and keeping this information straight, that’s why this template is here to help.
Using the Investment Property Income Statement
The Investment Property Income Statement file can be downloaded by clicking the link below.
The next step will be to open the file and start entering your own information. You will use the “Pulldowns” tab to enter recurring items that you have to pay, such as the mortgage and utilities. Anything else that you can think of can also go in this simple table.
Now, choose the current month in which to start entering your data. The first month, January has a few examples to get you said and started, but you will eventually need to replace these items so your overview is accurate when everything is done.
Start by listing your income at the top of the page above and the use the larger table below to list your expenses. You’ll start by listing the date the expense was paid, the category, amount, and a brief description of the item as well.
Your Income Statement will display another table off to the side so you can track your mileage too, so you have everything listed conveniently in a free-flowing structure.
When you finish, go to the “Summary” tab for a complete overview of all this information on one page.
You can see how this free template can really change the way you manage your finances and give you the much-needed space to plan for your future.
Download: Investment Property Income Statement
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