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2 Mar 2018 ... Are you searching for an easy-to-use but powerful free OCR program? ... bank statement, passport document, magazine article, PDF contract or ... Phone charges Advertising Cleaning and maintenance supplies Maintenance and landscaping services Property insurance Major equipment purchases and direct investment in the property itself, such as renovations, are capital expenses Typically, current expenses are inescapable Although you can economize on various operational costs, items like property insurance are annual costs that are difficult to avoid You either have them or you don t By the same token, greater control over current expenses will give you a better handle on your overall cash flow Knowing where your cash is going and when helps you assess your cash flow Analysis of your spending habits could prompt you to economize in some areas and boost spending in others Accounting software packages, a topic we discuss in 14, can help you crunch the numbers Scheduling regular payments so that you aren t hit with a load of expenses at any one time can help you achieve a stable cash flow with fewer strains and hiccups No sense letting bills pile up only to deal with them later, or to leave yourself open to a massive run on your bank account Paying all your bills at once may be a cathartic experience and we won t deprive you of it if that s the case but paying your bills gradually allows you to develop your savings steadily and brings greater discipline to your investing habits Current expenses are great when tax time comes around because you can use them to offset income earned Although you have to pay for them out of cash flow, in the case of a rental suite in your home the expenses related to the operation of the rental suite may completely offset the income you derive from the suite This may sound like a bad thing, but considering the rental suite is in our primary residence, the result is actually a more economical residence for you! Even if expenses don t completely offset taxes owing, they reduce what you have to pay even as they make your investment property that much more viable to operate Not claiming current expenses is the easiest way to leave money on the table at tax time Keep accurate records of expenses related to your investment property If you don t you ll risk missing out on deductions you re entitled to claim, which could hurt your investment s bottom line significantly. pdf ocr software Free OCR Software - Optical Character Recognition and Scanning ...
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