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Updated over 1 year ago on . Most recent reply

User Stats

7
Posts
5
Votes
William Ring
  • Rental Property Investor
  • Knoxville, TN
5
Votes |
7
Posts

At what point does it become too hard to do your own taxes?

William Ring
  • Rental Property Investor
  • Knoxville, TN
Posted

A bit of background, I did my taxes myself for the first time last year. It was the first time I had a salary job and/or sold some stocks, and my dad had previously done them for me while I was looking over his shoulder because he had the H&R software, I was in college, working only summer jobs, or made less than the filing requirement. I bought a primary residence that I'm house hacking and a triplex this year. My primary residence is a conventional loan and the triplex was a private loan from someone in my network (I am paying them interest). Should I get a CPA this year? What forms do I need to make sure to fill out if I do them myself? Any tips or advice would be useful!

Most Popular Reply

User Stats

757
Posts
1,041
Votes
Julien Jeannot
  • CPA, Real Estate Broker & Investor
  • Seattle & Woodinville, WA
1,041
Votes |
757
Posts
Julien Jeannot
  • CPA, Real Estate Broker & Investor
  • Seattle & Woodinville, WA
Replied

I'm a CPA and I use a CPA who has the expertise to handle my situation.

I've learned over the years the DIY approach slows you down as you dedicate precious time scratching the surface of too many topics. Penny wise, dollar foolish.

Building relationship with experts in their field is invaluable as your business grows. 

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