House hacking, need a CPA?

6 Replies

@Michael Heredia

Sorry to sound as smart *** but I would guess if you know how to prorate expenses, you can do it yourself. 

But you need to know what expenses are deductible. If the money you spent is repairs or improvements and things like that. 

I think if you have time and if you keep on asking questions like this here, you can do it yourself. We are more than happy to help you. 

@Michael Heredia

I would hire a cpa. 2heads are better than one. It also provides some insurance against mistakes. CPAs have many clients and see many uses of rules. I’m not sure how versed you are in doing taxes so Do your taxes yourself and give them to a few CPAs  to review and if nothing is better or if changes are made you will have a clear answer and it shouldn’t be that expensive. 

Originally posted by @Michael Heredia :
I purchased a SFH, I'm house hacking, renting out two rooms and have my employment income. Would it be worth hiring a CPA or doing taxes myself?

 Reach out to me, I can share with you comprehensive House hack analysis and NI calculation spreadsheet.