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Updated almost 8 years ago,
First time going to a CPA
Hey, BP family. Yes I'm a newbie still learning the game and education myself. I've had 2 units for about 5 months now and it is now tax time. This is my first time doing business taxes and I want you guys opinion to make sure I'm doing this correct.
I have a appointment with a CPA this Thursday. I know I need my basic information of course. Such as Identification etc, Business entity, Tax ID number & expenses. Correct ?
EXPENSES
Property income up till this date -
Travel/gas - Which I don't not have recorded. Does it just become an estimate at this point ?
Entertainment - Not sure how to calculate this ?
Postage/shipping - I did mail some letters out but didn't record this cost ? Do I estimate it ?
Telephone - Do I estimate cost ?
Insurance - I do have this recorded
Rehab cost - I do have this recorded with invoices
House purchases - I do have
Property tax - I didn't pay my taxes as yet, so I'm not sure with this 1.
Am I ready to go to the CPA ? What am I missing ? What do I need to do different ? If anybody can help this will be greatly appreciated. I'm in the process of building my empire myself and I jump in the game because I am determine to learn. BP been great to me so far and I love it. Thanks in advance.