ADVERTORIAL
THE BIG BEAUTIFUL BILL: HOW TO GET YOUR CASH AND RECORDS READY FOR TAX SEASON This year’s tax season comes with a new element: the recently passed One Big Beautiful Bill, a federal tax package that makes several changes to deductions, credits, and filing rules. While the details will affect landlords differently depending on their situation, it’s important to know the landscape may look different than in years past. Every landlord’s tax situation is unique. Remember to consult your tax professional ahead of time, since these changes may affect how you file. What you can do now, however, is strengthen the parts of your business that you can control, such as organizing your cash and simplifying recordkeeping.
SEPARATE YOUR CASH BUCKETS EARLY
One of the simplest strategies landlords overlook is using separate accounts for different purposes. Just like you might keep a personal emergency fund, your rental business benefits from earmarked accounts:
Tax reserves: A dedicated account for estimated taxes or the annual property tax bill.
Operating expenses: Day-to-day cash flow for rent collection and routine expenses.
Capital improvements: Funds set aside for major repairs or upgrades.
Keeping these buckets separate means you’ll never wonder whether you’ve already set aside enough for taxes, it’s right there in its own account. Even better, you’ll develop a clearer picture of your true operating income since the tax money is off-limits.
How Crescent Can Help Crescent makes this simple by allowing landlords to open unlimited checking accounts under one login. That means you can create a “tax bucket,” a “maintenance bucket,” and an “operating account” without juggling multiple banks or spreadsheets.
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