Instructions:

Let's say you have a brand new Apple Mac Air notebook computer. You want to deduct the full price it cost you, $2000, from your Active Income (day job) in order to lower your income tax. Since now you're a business owner (i.e. rental property), you get to expense it via Section 179. But because it's a computer and considered "listed property," you have to keep a very time-consuming, burdensome log in order to take take advantage of this tax deduction.

Now, however, you have the IRS Listed Property Log Creator! This is what you do...

1. Enter the number of tasks for your listed property.For a computer, it may be, say, 10 tasks, or things you do on your listed property. For example, if you do 10 work-related activities (emails, check news, write contracts, research, etc. ) on your computer, enter "10".
2. Then fill in the percentage of business use, such as "80." This means 80% of the time, you use the computer for business. This is the amount you'll get to deduct off the price. Want to deduct 100%, enter "100"!
3. Then enter the total number of hours used including personal hours. For example, for 1000 hours of total use, you'd enter: "1000"
4. Then enter the start and stop dates for the log.
5. Click Submit and on the next page, enter all your activities like "reading and writing emails", "checking real estate news", "writing contracts", "researching foreclosures", etc.
6. Click Submit and on the final page, your log will be automatically and randomly created! (For educational purposes only).