Start with CPA or Attorney??

[Miles Stanley]

Ive been researching entity formation (interested in SFR and MF buy and hold) and I'm a 'little' confused (to say the least).

Would it be best to consult a CPA first to determine the best structure from a tax standpoint and THEN get with an attorney get their liability/asset protection opinion and to set it all up??

OR

Get with the attorney first and set everything up based on their recommendations and then let the CPA just do their thing and be done with it?

Anxious to get started, but i want to definitely get these particular ducks lined up first.  Hopefull this is too broad a question.

Thanks,

[Logan Allec]

Preferably both at the same time.  However, if that is not possible, consider this: you set up entities first and foremost for asset protection and secondarily for tax purposes.  Therefore, talk to an attorney first and a CPA second.  And I'm saying this as a CPA.

Also, don't trust a CPA who tries to give you asset protection advice in any authoritative manner whatsoever.  We may very well know the basics through experience and from what our clients' attorneys have told them, but we do not keep up to date on the latest asset protection laws in a given state like we keep up to date with the tax laws.