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Updated about 7 years ago on . Most recent reply

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Kevin Phu
  • Rental Property Investor
  • San Diego, CA
170
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507
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CPA worth it for 3 months of REI

Kevin Phu
  • Rental Property Investor
  • San Diego, CA
Posted

Closed and moved into my first property at the end of September. Started renting out rooms shortly after. Would it be worth hiring a CPA to do my RE taxes for the 3 months? I understand, for the most part, how to fill a Schedule E and Schedule A. I'm sure I can look up the questions I have as well. Seeing as a few months worth of income/expenses isn't much, would it be better to just do it myself for this filing?

Most Popular Reply

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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
5,982
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied

Is it worth it to pay for dry cleaning when you can do your own laundry? Is it worth it to go out when you can stick a boxed dinner in the microwave? Is it worth it to hire a web designer when there are YouTube videos that, for the most part, teach it? Should I continue? :)

  • Michael Plaks
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