Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago, 09/06/2022
PTIN vs self prepared tax return, any red flags?
I've used a CPA in the past, but I've learned that I can handle most of my personal returns by myself. With the IRS adding tons of money to audit enforcement, will a self employed tax return with various real estate schedules raise any audit red flags if I filed my taxes on my own, vs if I have a PTIN?
For context, I'm a financial planner by profession & have gone pretty deep into tax planning. I only have one short term rental property but I plan to do a cost segregation study this year.
I'll get a professional cost segregation study done. I've tracked all of my expenses & material participation hours religiously... What are your thoughts on doing your own taxes in a situation like this?