Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago on . Most recent reply
CPA vs enrolled agent
Hello bp!
So I just finished doing my taxes with my tax man that has been doing them for the past 5+ years. I am currently a w2 employee and have very minimal income coming in through a house hack. I started going to him because he is the person recommended by my parents.
After bombarding my tax man with many vetting out questions I learned that he is not a CPA but he is an enrolled agent instead. Having never heard of an enrolled agent I ask more and more questions which brings me back to BP.
Has anyone worked with enrolled agents?
Do you prefer to work with enrolled agents?
What are some major/minor differences between the two?
Is a CPA a better option for real estate investing in the long term?
He said that he currently works with investors so I’d like to continue doing my taxes with him.
Thank you for reading
Mike
Most Popular Reply
- Tax Strategist| National Tax Educator| Accepting New Clients
- 4,418
- Votes |
- 3,679
- Posts
An EA is licensed through the IRS, and they are allowed to represent you before the IRS. They only work in tax or resolution.
A CPA requires 5 years of college as well as an exam and experience- but CPA's work in many field. Audit, Tax, Private accounting. More diversified. Someone needs to be a licensed CPA to provide assurance work (audited financials).
It comes down to the specific person. If they specialize in real estate and know what they're doing you're fine working with either.
