worth putting a rental thru the accountant?
| # | Post |
|---|---|
| 1 | never have before - my thought are the fees will take any refund due? Is it worth putting the rental x 1 cost etc thru an accountant? cave-man22 - 2020-11-29 19:46:00 |
| 2 | Who does the business tax return for you and kenrick69/Jennifer now? desi1969 - 2020-11-29 20:12:00 |
| 3 | Is it being run as a business, or is it on an IR3? tygertung - 2020-11-30 06:25:00 |
| 4 | An experienced property accountant maybe. Less experienced, no. Refunds from offsetting rental losses against other income are no longer happening due to ring fencing.And bear in mind if there is only one rental, and it is sold, those carried forward rental losses may never be able to be used. artemis - 2020-11-30 06:25:00 |
| 5 | My guess is that if you're asking here, then yes, spend the few hundred dollars to get it done correctly. If you know what you are doing then DIY is fine, but if you don't, it is worth spending a bit of cash for someone to DIFM. allan_mac - 2020-11-30 11:44:00 |
| 6 | not that hard to do it yourself pearlypearl - 2020-11-30 13:19:00 |
| 7 | You could get an accountant to run you through it the first year, and then you'll be able to do it yourself after that. tygertung - 2020-11-30 15:11:00 |
| 8 | desi1969 wrote: I use a local accountant for personal and business accounts kenrick69 - 2020-12-05 22:35:00 |
| 9 | tygertung wrote: neither kenrick69 - 2020-12-05 22:36:00 |
| 10 | accountant fees are tax deductable....yes. spead - 2020-12-21 21:33:00 |
