Thanks to a lot of great information here, my wife and I have grown our RE portfolio to a point where it probably doesn’t make sense for me to be using TurboTax anymore. We both have high paying W2 jobs and our tax liability is substantial (~$200K). While I enjoy accounting and learning about tax law, I’m realizing that it’s not the best use of my time and I’m likely not taking advantage of the strategies that exist to reduce our tax burden. 

I have spoken to some notable local accounting firms including ones that my wife’s business use and they all seem too conservative. Their goal seem to be to avoid audits. My goal is to lower our tax liability to the fullest extent of the law. I have successfully defended against an IRS audit so my risk tolerance is high on this front. 

Going forward, our plans are to continue to acquire rental properties. We have never sold anything and don’t intend to. My wife will continue her job (she’s a physician) and I will likely transition to managing our RE portfolio full time (I do all the property management today already). In “retirement”, I will likely do some consulting gigs and participate in ventures that I’m passionate about. One day, I would also like to justify the cost of airplane ownership :) 

Any leads or recommendations would be greatly appreciated! We are in VA and the properties are in CT.

Thank you!