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Updated over 5 years ago on . Most recent reply
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My tax advisor says I am defining my business wrongly.
I called my tax advisor to ask how to use my business credit card. She is my wife's aunt and is not a CPA, but has being preparing taxes for the whole family for years and for other people, including some LLCs. I was asking if we were going to be able to deduct the computer and printer I bought on that credit card, since I use for my business. I own 2 SFHs as rentals under the LLC. She told me we were not going to be able to deduct that because my business is not a real estate business, but only a rental business. Is she right? Should I look for a real CPA and do my taxes with them ?( I called some CPAs in the past but they were quoting me $2000+ to do my taxes, that's why I stuck with the aunt for $300)
What should I do?
Thanks
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- Accountant
- Atlanta, GA
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"I called some CPAs in the past but they were quoting me $2000+ to do my taxes, that's why I stuck with the aunt for $300"
I wouldn't examine the cost, but rather the value you obtain. It sounds like you're learning the value you get from your $300 return preparer is commensurate with her cost...