Properties and Tax Strategy

Two pages in the Intelligence group cover property and tax. Properties tracks homes, rentals and land: what each is worth, what you still owe, and what it brings in. Tax Strategy estimates the tax for a year and shows how your deductions reduce it.

What you'll learn

• How to add a property and read its value, equity and cash flow
• How to read the tax estimate, deductions and brackets
• Why the tax figures are only an estimate

Properties

What you see

1. Add Property, in the top bar and in the empty state.
2. The totals:
   • Total Value: the sum of the current values.
   • Total Equity: the value minus the mortgage.
   • Total Mortgage: the outstanding loan balances.
   • Properties: how many are tracked.
3. One card per property, with its Value, Equity, Mortgage, Cash Flow and Cap Rate. Each card has a pencil icon to edit the property and a trash icon to delete it.

If you have none yet, the page says "No properties added yet." and suggests adding a home, rental or land.

Add a property

1. Select Add Property.
2. Enter the Property Name and choose its Type: Primary Residence, Rental Property, Land or Other.
3. Enter the Current Value and, if you know it, the Purchase Price.
4. Enter the Mortgage Balance and the Monthly Payment on the loan, if any.
5. For a rental, enter the Rental Income and the Monthly Expenses, such as insurance or repairs.
6. Enter an Address if you want one. It is optional.
7. Select Add Property to save, or Cancel to close the form.

To change a property later, select its pencil icon. The same form opens as Edit Property.

Cash Flow and Cap Rate are calculated by the page from the rental income and costs you enter. Use them to compare properties, not as a guarantee of return.

Tax Strategy

What you see

1. The tax year, with Previous year and Next year arrows.
2. Total Income for the year, Total Deductions (deductible expenses) and Estimated Tax, which shows the effective rate.
3. Tax Saved via Deductions: the estimated saving from your deductions.
4. Tax Bracket Breakdown: a table with each bracket's Rate, its Taxable Amount and its Tax.
5. Monthly Deductions: a bar for each month of the year.
6. Deduction Categories: the deductions grouped by category, such as Medical & Health, Charitable Donations, Education or Home Office. Each category shows its item count, its Total Deductions and the list of items.

A disclaimer on the page says the figures are an estimate for information only.

Use the results

• Compare Estimated Tax from year to year to see the effect of your choices.
• Use the year arrows to look at earlier years.
• Take the figures to your tax adviser. Do not file from them directly.

Frequently asked questions