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You would not want to get into the trouble with the IRS. Making any of these Tax mistakes mentioned here will guarantee that you will run afoul of the IRS and end up with a Tax Debt.

In any industry, bookkeeping is always a repetitive and tedious task. Bookkeeping Mistakes in Real Estate Industry is very common amongst real estate agents and investors not because you don't know how to keep proper records but because you don't have the time to be meticulous about it, here are top 5 mistakes that generally occur in real estate accounting. Poor maintenance of records, Wrong employee classification, Not segregating bank accounts, Lack of adequate back-up or Improper classification of expenses.