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CPA fee for two unit
I'm a new investor. Just closed on my first deal on 11/27/19. The property is two units. I'm renting the first floor and living on the second floor. I was recommended to a CPA who is charging $500 to file my tax return.
Do you think the CPA is charging too much? Thank you for your input.
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#5 Tax, SDIRAs & Cost Segregation Contributor
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- Atlanta, GA
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#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
CPA fees internalize many factors. Among them:
-Regional cost of living
-Firm overhead
-Knowledge level
-Proprietary resources and strategy
-Timeliness of communication
-Ability to execute
A better question is: "Do you think the CPA is charging too much for the value he/she is going to provide" which we won't be able to answer.
That said, I would think a $500 compliance fee for three income tax returns (federal, state, and local), placing a rental RE asset in service, and doing a proration of expenses is on the low-middle end of the spectrum.