Need help with your taxes this season?
Save some time and take care of your taxes easily with SimplifyEm Property Management Software. With SimplifyEm, landlords and property managers can track their properties, tenants, leases, income, expenses, and get done-for-you tax reports that include the Schedule E and 1099s.
SimplifyEm automatically fills out the Schedule E for you when it’s tax season. How it works is throughout the year, you’ll enter in all of the income and expenses on your properties, then when it’s time to generate the Schedule E, SimplifyEm adds everything and categorizes all of the items according to the IRS guidelines. No need to manually calculate and tally the numbers, the Schedule E can be generated in seconds. If you need to make adjustments, you can simply edit any transaction and the Schedule E would automatically get updated. Before generating the Schedule E, you can see a full view of all of the income and expenses on each property for each IRS category. No more switching back and forth between spreadsheets or papers because now you’ll have it all in one view. You can also add insurance, mortgage interest, other interest and property taxes to it. SimplifyEm provides unlimited document storage so saving all of your receipts and invoices in one place allows you to easily find files from any time period. SimplifyEm can keep track of different property ownership. If you own properties under your name or different companies or manage for other owners, then SimplifyEm can generate a Schedule E for each entity or owner.
SimplifyEm also generates 1099-MISC and 1099-NEC forms. When managing properties for other owners, the 1099-MISC is for owners who received income on their properties. For any vendors that were paid more than $600 or more in a year, a 1099-NEC is issued to them. Both 1099 forms are automatically populated by the system and allows you to print, email, and e-file in bulk with one click saving you hours. When using both of these forms, a 1096 form is required for a cover sheet. A 1096 form shows the total of all of the 1099s added up and SimplifyEm generates this form for you as well. If you have an accountant, you can add them as a sub-user and they can also look at any receipt, report or generate these tax reports themselves.
SimplifyEm also has rental advertising, e-signature for online applications and leases, tenant screening, automated emails of notices that include rent reminders, rent receipts, late rent notices, texting, online payments, portals, renter’s insurance, vendor management, maintenance requests and work order tracking, bank tracking and so much more! SimplifyEm is an all-in-one software to manage your properties. SimplifyEm has been in business for seventeen years now and has over 150,000 happy customers. All SimplifyEm customers get free, unlimited and U.S. based live training to help set up and get your questions answered. Let SimplifyEm make it easier for you this tax season and the whole year. Try SimplifyEm today with a 15 day free trial.