Do I need CPA or Enrolled Agent yet?

[Atith Saheba]

Howdy! My wife and I were wondering if we are at the point where a CPA or Enrolled Agent would be justified. We are both full-time W2s filing jointly however we rookie investors and have done a limited partnership in a syndication last year. The operators of the syndication emailed us and advised for us to file for extension while they work with the CPA for the project to produce K1's.  I have looked at the forum and found a couple of recommendations for someone in the Houston area but these post are a few years old and I've attempted to contact them.  Also, when finding a CPA/EA what are the key things to look for or ask? Currently looking for tax prep but will be interested in tax planning/strategy this year as we start our business in the medium term rental space. Some of these quotes for $5,000-10,000 packages seem very high. Thanks in advance.

[Curt Riffel]

@Atith Saheba

I am located in Frisco, TX. I have an MS in Accounting, a CPA license, and prepare tax returns for real estate investors. Also I'm friendly and easy to work with. We create a ton of K-1s for investors just like you that are invested in multifamily syndicated partnership deals. 

With 2 W-2 jobs and 1 K-1 from a syndicated investment I do not think you need a CPA/EA yet. I think Turbo Tax would be easy enough to do your own taxes still. Tax planning can look very different depending on your goals and plans.