New to Real Estate · Windsor, CT · Member since 2021 · 7 posts · 2 votes
How much is your accountant asking u to pay to do your investment properties taxes? Mine seems to be charging a lot because he said my 3 properties are in 3 different States and besides filing investment property taxes cost more than w2 tax preparation.
I had a CPA tell me today that it would be $800-1500 depending on complexity. What's yours charging?
Yes that's exactly the same amount he's charging me....which is mind blowing!!
If your professional is charging $800 - $1500 to report three rental properties across 3 different states I would slam the signature onto the engagement letter right now. You won't find a better deal to get this type of tax return prepared competently.
What's mind blowing is that you entered into the life of a multi state landlord and somehow did not think that would significantly complicate your tax filings to the point where a competent professional would ask to be adequately compensated for the effort, knowledge level and time such a tax return would take.
New to Real Estate · Windsor, CT · Member since 2021 · 7 posts · 2 votes
3y
Yes u are right. Being a rookie investor i never thought about it and didn't even know it was not advisable to have properties in multiple States. I didn't consider the complexity but i guess I know now going forward.