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Updated over 2 years ago on . Most recent reply

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Do I need a CPA for a single unit?

Posted

I just purchased my first rental property, a single family house in Virginia. 

I understand that getting an accountant can help me save money on taxes, but in my current situation am I really going to save much? I'm thinking about just using turbo tax for this year's tax return,  and holding off on paying an accountant until I do major renovations or own more properties. 

The property was turnkey, and I'm not planning on doing any repairs until next year. I currently own 2 properties. I own my home in NYC, and I own a rental in Virginia; both have a mortgage. So given my circumstances, how much can an accountant save me?

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