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Updated almost 10 years ago on . Most recent reply

User Stats

65
Posts
10
Votes
Dan Graney
  • Machine designer
  • Columbiaville, MI
10
Votes |
65
Posts

Keeping track of expenses as a new business

Dan Graney
  • Machine designer
  • Columbiaville, MI
Posted

I know that I want to move forward and become a real estate investor. I am buying some books, accounting software and incurring some legitimate business expenses like mileage as I look at potential properties.

What is a good way to have these expenses fall under a business entity? Do I start with just a sole proprietorship so the expenses are tied to a company, or can I just record them as business expenses on my personal taxes and form some kind of business entity later?

Thank you in advance for your advice.

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