Anything I spend relating to Real Estate - I mean ANYTHING. Closing gifts, gas, envelopes, computers, paper, coffee for a client... EVERYTHING - gets bought either through a card specifically for that purpose or via a check from my real estate business account.

I just hand off the year end summary for both things to my accountant and he works his magic.

R

SUV Tax Break, Section 139: http://www.selfemployedweb.com/suv-tax-deduction-list.htm

Used to be able to write off more than $100K two years ago, but now only up to $25K for the first year.

Free Cayenne, sort of...

I agree with the above responses.

Hiring a CPA is a very professional choice. Not only would they help you with this year's taxes (I guess my response is moot now that it's tax day), but they can help you get organized so that you know what types of categories to create, receipts to keep, and expenses to track for the coming years.

Also, a good CPA may be willing to accept payment when your refund arrives!!

I'd ask for a referral from a friend in your area. I used a CPA for my personal taxes this year, and am getting back almost $3600 b/w Fed and State. It cost me $103 (which is deductable). I'd avoid H&R Block. They are overpriced and, in my experience, you don't recieve very personalized attention.

"LOL... If you don't know what you can deduct, why would preparing your own returns be a smart move? Using a professional with expertise in a field that you're not is a smart move. Using a CPA will also yield much higher returns."

I do not use a doctor,lawyer or realtor. I am a FSBO type personality. The other day my tooth had a ache and I just pulled it with my needle nose plyers problem is I pulled the wrong tooth. At least I saved money thats all that matters.

This post was in jest but you get the point. lol