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Updated almost 4 years ago,
Tax Strategies for Rentals
I have 3 doors that generate $3,500/month in rent. My goal is to buy a 4 plex this year. My wife has a W2 job that she makes about 63k/ year. I have a W2 that makes about 80k/ year. We owed about $2,200 in taxes last year. I want to get a financial strategist to help lower the amount of taxes I pay. Right now the company I want to use charges $3800 for the tax plan and then any where from $700-$2000 for filing the taxes. The $3800 is a one time charge. Are these fees comparable to what other places charge? Is it worth it for me to pay those kinds of fees since my relatively small at this point or should I just pay the taxes and wait until the fees of a finacial strategist put weight the cost of my taxes. I would appreciate any advice! Thanks.