🩺 Week 19: Your Landlord Financial Health Check
It’s Time to Adjust, Remove, and Reflect—For Real.
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Week 19 is all about tightening the belt where it counts and protecting your bottom line like the asset it is. Too many landlords move on autopilot—getting hit with tax bills they didn’t see coming, carrying credit baggage that isn’t even theirs, and leaking money from a budget they never really tracked. That ends today.
Each financial system—taxes, credit, and cashflow—requires check-ins. We’re not doing damage control. We’re running prevention.
🧾 TAX HEALTH CHECK: Adjust Your Withholding If You Owed Too Much
Why?
If you owed a big tax bill this year—or worse, got penalized—your withholding (yes, even as a landlord) is off. And no, this isn’t just a W-2 employee issue. If you’re earning any freelance, side hustle, or rental income, you need to check your estimated tax withholding strategy.
The benefit:
Avoid tax time stress and penalties. Increase your monthly cashflow accuracy and build a real reserve strategy instead of scrambling each April.
✅ Step-by-Step:
Visit the IRS Withholding Estimator: irs.gov/withholding
Gather your info: This includes W-2s, rental income, business profits, and side gig earnings.
Input everything accurately: Include how much tax you paid last year and your expected income this year.
Review the results: The tool will tell you how much to withhold or pay quarterly.
Take action: Submit a new W-4 to your employer and/or start/adjust estimated payments using IRS Form 1040-ES.
Set calendar reminders: Schedule quarterly payments to stay on track.
💳 CREDIT HEALTH CHECK: Remove Yourself as an AU on Toxic Accounts
Why?
Being an authorized user (AU) can help build your credit—if the account is healthy. But if the primary user is carrying high balances, missing payments, or the account has aged out of usefulness, it could be hurting your score.
The benefit:
You protect your credit score, improve your debt-to-limit ratio, and make yourself look stronger to lenders for future property acquisitions or business funding.
✅ Step-by-Step:
Pull your credit reports: Use SmartCredit to get all 3 bureaus for just $2 using our link during the 7 day trial and just $19.95/month afterwards.
Highlight all AU accounts: These usually say "Authorized User" or “AU” in the account details.
Check for red flags: High utilization (over 30%), late payments, or closed status? Time to go.
Contact the account holder: Ask them to remove you as an AU by contacting the card issuer directly.
Confirm removal: Wait 30 days, then pull your report again to ensure it’s gone.
Replace with your own credit-building accounts: If needed, open a personal secured card or business credit tradeline.
💸 CASHFLOW HEALTH CHECK: Complete a 7-Day Expense Diary Challenge
Why?
Sometimes your rental income isn’t the problem—your daily habits are. This week, you're going to play financial detective and track every dollar. Not just business expenses—everything.
The benefit:
You’ll uncover where your cash is bleeding and where you can redirect money toward reserves, debt paydown, or your next property.
✅ Step-by-Step:
Choose your method: Use a small notebook, Google Sheets, or an app like Notion or Goodbudget.
Track everything for 7 days: Morning coffee, Amazon buys, Uber rides, that Lowe’s trip. Every cent.
Categorize your spending: Label each expense (Personal, Rental Property, Business, Miscellaneous).
Highlight the leaks: Look for duplicate subscriptions, unnecessary upgrades, or emotional spending.
Compare wants vs. needs: Are you spending in line with your values or reacting to convenience?
Create your next week’s cashflow map: Now that you know the problem, let’s fix the forecast.
👩🏽⚕️ Your Financial Vital Signs This Week:
✅ Adjust your tax withholding and avoid another surprise bill
✅ Clean up your credit by removing yourself from someone else’s mess
✅ Discover where your money goes before another dollar leaks out
Landlord Tip of the Week:
You don’t need more income. You need fewer leaks.
Want help implementing this?
💬 DM me "WELLNESS" on Instagram or reply to this post and we’ll build your custom Landlord Financial Treatment Plan.
Until next week,
Candace – Your Rental Income Doctor™
The Income Care Unit™ | Strengthening Your Financial Health for Homeownership and Beyond