I own a 46 lot mobile home park. The property is in a separate LLC from my other properties. No POHs. Lot rent only. All utilities are billed directly to the residents by the utility companies. About as simple of an operation as can be.
I do all of my own bookkeeping using QuickBooks. I’m very good with keeping up with it and recording everything. At the end of the year I simply create an accountant’s copy for the calendar year and email a copy to my accountant to prepare a Schedule C for income taxes. After preparing my Schedule C, my CPA prepares a list of journal entries and forwards them in an email to me. I create all journal entries and forward a second Accountant’s Copy to them for review to make sure I have entered all entries correctly and that we are on the same page.
I would like to know what park owners in my same situation pay their CPA for this service each year? I think I am paying too much and may have to make a change.