For the past 6 years, I've paid a CPA to do our taxes. This was because my tax situation became more complicated with a marriage and moving to a different state. I've kept this going for convenience. However, the cost of this CPA has increased each year. I also have 6 years of tax returns done by a CPA to use as reference to do my own. For folks who do their own taxes, which software do you use? How much did this software cost?
A few things about my situation. We file married filing jointly. We still own property in our home state. Properties are rented out. Both properties cash flow (unless some major maintenance item occurs like this year). So, I've had to file state taxes for 2 states in addition to federal. The CPA has been taking depreciation to offset income from these properties. So, the claimed income has been nothing on previous returns. I'm not clear how they calculate this depreciation. Is this something I can get from my CPA? Is there any other details (such as, allowed losses that exceeded the threshold from previous years), I would need from the CPA before trying to do my own taxes?
A few things about my situation. We file married filing jointly. We still own property in our home state. Properties are rented out. Both properties cash flow (unless some major maintenance item occurs like this year). So, I've had to file state taxes for 2 states in addition to federal. The CPA has been taking depreciation to offset income from these properties. So, the claimed income has been nothing on previous returns. I'm not clear how they calculate this depreciation. Is this something I can get from my CPA? Is there any other details (such as, allowed losses that exceeded the threshold from previous years), I would need from the CPA before trying to do my own taxes?
Statistics: Posted by Dabeachi — Sat Sep 07, 2024 9:09 am — Replies 12 — Views 576