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Updated about 5 years ago,

User Stats

7
Posts
6
Votes
Luis Baumeier
  • Rental Property Investor
6
Votes |
7
Posts

My tax advisor says I am defining my business wrongly.

Luis Baumeier
  • Rental Property Investor
Posted

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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