Saturday, February 19, 2011

TAX Time...Oh My!

I think a key to getting your taxes completed is having a competent CPA. I've had the same CPA for years and trust him completely. He has all my past tax years on file, he knows our line of work and what deductions to be looking for and he also knows that I am coming to him again this time next year.

I keep ALL my receipts in a box (any shoe box will do) and add everything up for him so he doesn't have to sort through it himself. Remember...he's paid hourly not by commission so I want to make the most of my time! Not sure what you can deduct? Here's an interesting article I came across from Inman News By Stephen Fishman: A tax deductions checklist for real estate professionals. A great read and actually had very useful information.

Some people prefer to use the software programs out there...ummmm not me! I would rather have a real LIVE Person with me should I ever get audited (Please Lord, "No").

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