Updated over 8 years ago on .
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newbie REI...KINDA freaking out about taxes.
Hey BP.
I'm kinda freaking out about taxes. I just started real estate investing half way through the year and am about to buy another rental. I created an LLC a couple of months ago in preparation for the second unit, but haven't used it yet. I've talked to a CPA who is REI minded, but since I just started with REI, I haven't been keeping good records of what's a business expense and what isn't. I work at a bank and have no trouble pulling statements and such. But I'm concerned about the things I don't have receipts for that I'd like to deduct, plus I don't know how I should approach future deductible purchases.
Are there some CPA's out there that could help me with a just a couple of questions to set my mind at ease? I'm not trying to have a full sit-down conversation, just a few things here and there that need to be addressed so I can sleep at night...haha (kinda kidding, kinda not)
Thank You!
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Skip and listen to mine. I cover some of that :)