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WSO Free Modeling Series - Now Open Through
May 31, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
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+Bonus: Get 27 financial modeling templates in swipe file
I believe a tax accountant is overkill if you’re a w2 employee with a few 1099s. When you get a K1 and a rental property, go ahead with the cpa.
No reason for tax accountant unless you have multiple K1s coming through which require extensive work and filing in most of the states. At that level you are already an accredited investor and are worth millions so it's a drop in the bucket and also logistically very annoying to do this work on your own as you have to record P&L every year.
With a W-2 you likely don't have any advantages or loopholes you can take advantage of so would suggest just spending the 1-2 hours on Turbotax every year come tax season and save yourself the cost of a CPA to input the same details for you.
Why not use a Jackson Hewitt or HR Block?
Price from one of those is often higher than a small CPA firm, and you have less educated help.
It's unlikely a CPA is going to do something you can't do yourself OP. Especially after the Tax Cuts and Jobs Act, if you're paid as an employee there isn't that much to worry about.
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