How Form 8865 Rental 2024

What's the best way to collect rent from Utah? What's happening YouTube, it's Matt. Welcome to Mentorship Monday. Today's question comes from Nicolette. I think I said that right. I'm sorry if I didn't say your name right, Nicolette. Nicolette didn't say where they're from, but that's okay. They want to know the best way to collect rent from their tenants. Well, what about cash or checks? Give tenants your bank account? Do it online? I'll talk about it. A lot of landlords, like us, don't take cash at all. We're buying a big apartment complex and we have a third-party manager managing the property for us. They do not take cash at all, and we'd like to get to that point with our company. Some landlords do take cash, but I warn you, folks, that take cash, it can become a liability at a certain point. I mean, just, you know, if you might make you feel like a big cheese if you're riding around with four or five grand in cash in your car on the way to the bank or doing whatever you're gonna do with it, but it is something that becomes hard to track. If you have investors in your business, you know, if that cash got lost or whatever, it could be very detrimental to you. So cash, I think, is more like a mature landlord kind of thing. No offense to folks that take it and we still do. We're trying to get off of it, but. So cash, I think, is more like on the amateur side. And I would try and wean yourself off of it if you can. Checks, money orders, those are about the same. We have a check scanner here in my office that we can just scan...