Will you do your own taxes this year?

[Kurt Gardner]

I have searched the forums and blogs on the subject, and it seems to be slightly leaning toward CPA/professional preparation.

I have used a professional for the last 10 years and each year, my costs have increased (we are charged by the form, so with more forms [more properties] comes more cost).  Because I have had what I believe to be competent preparation in the past, I am considering the option of using those previous returns as a customized guide for self preparation this year.

I may give up halfway through and decide to acquire a professional before the deadline next year, but I feel like it's something I should try.

I am aware of the business version of turbotax and I also saw a reference to taxact.com as a method for personal preparation.

• My situation is:
• I have 5 SFH all occupied. 1 was acquired this year (rehabbed then rented).
• I have 1 duplex acquired this year (neither side rented yet - completing rehab and expect to rent in the last month of the year or first of 2017).
• I have a full time job.
• My wife has a part time job.
• We are a sole proprietorship regarding the business organization.
• My total cost for preparation last year was $865.

Please comment...will you:

1. Use a professional for your tax preparation, yes or no?
2. If no, what software, program, method will you use to prepare your taxes? 
3. If yes, what do you expect to pay as SP?
4. If you prepare your own taxes, what has been the biggest help, learning moment, best advice you would pass along to a fellow investor.

Thank you for your time, and as always, I appreciate this community, the encouragement, and advice!

[Brandon Hicks]

I have 61 rental units, two other deals I'm holding paper on, a small painting biz and a wife with a W2 job.

My tax prep is about a grand a year. I guess maybe you should shop around but at the end of the day, I'll gladly pay a pro for tax prep. Just as I'll gladly pay someone else to clean apts and deal with toilet repairs. Assuming you want to grow your business you should be able to add more value to you business by using that time finding your next deal.

Just my two cent.