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Updated over 8 years ago on . Most recent reply presented by

User Stats

320
Posts
157
Votes
Isiah Ferguson
  • Investor
  • Charlotte, NC
157
Votes |
320
Posts

First time going to a CPA

Isiah Ferguson
  • Investor
  • Charlotte, NC
Posted

Hey, BP family. Yes I'm a newbie still learning the game and education myself. I've had 2 units for about 5 months now and it is now tax time. This is my first time doing business taxes and I want you guys opinion to make sure I'm doing this correct.

I have a appointment with a CPA this Thursday. I know I need my basic information of course. Such as Identification etc, Business entity, Tax ID number & expenses. Correct ?

EXPENSES

  Property income up till this date -

  Travel/gas - Which I don't not have recorded. Does it just become an estimate at this point ?

  Entertainment - Not sure how to calculate this ?

  Postage/shipping - I did mail some letters out but didn't record this cost ? Do I estimate it ?

  Telephone - Do I estimate cost ?

  Insurance - I do have this recorded

  Rehab cost - I do have this recorded with invoices

  House purchases - I do have

  Property tax - I didn't pay my taxes as yet, so I'm not sure with this 1.

Am I ready to go to the CPA ? What am I missing ? What do I need to do different ? If anybody can help this will be greatly appreciated. I'm in the process of building my empire myself and I jump in the game because I am determine to learn. BP been great to me so far and I love it. Thanks in advance.

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