Should I work with a CPA for short term and long term rentals?

[Steve Dunford]

Should I work with a CPA for short term and long term rentals? I am currently managing both myself and feel I am missing out on tax advantages or throwing money away. Does a good CPA help someone with single family rentals. What are a few things that a good CPA should be able to do?

[Daniel Hyman]

A CPA can be a tremendous asset. A good one can help with the following:

* Helping to organize a bookkeeping system to ensure no obvious deductions are falling through the cracks

* Providing guidance on entity selection

* Developing a tax strategy that is custom made

* Filing compliant tax returns

* Etc, etc, etc