I have a rental property in India and 1 saving account. Apart from that I used Robinhood and have fidelity, MS account. What do you guys recommend? TC: 300k
Why would you show your rental property income here in the USA ? Curios
Global income is taxable in usa.
If you are a citizen of the USA , not if you are on a visa , if I am not mistaken
Cpa. But don't need very expensive one. It's relatively simple.
Hw much they charge?
Around 300 to 500 max.
I have a rental property, in private equity and still use Turbo tax because we cannot do like itemized deductions like we used to do with my CPA.
So u loose few tax benefits?
I have a CPA do my LLC and for personal taxes I use Turbo Tax. Only problem is some years they have a maximum ceiling for trading line items. I add in my Schedule Al’s and everything. Until we can itemize again, no point. I should state I live in WA state where me there is no state tax, only federal filing. You can always try Turbo Tax and if you don’t like it try to find a last minute CPA. Maybe one day the govt will have software we can use and stop having the turbo tax lobbyists keep them from releasing it.
CPA for sure. Don’t use one from HR block either…
Any reason why ? Do they get some additional value?
An actual CPA might be fine, but don't listen to a tax advisor from any of the big companies. They all have, like, one day of training.