Questions to ask CPA/Lawyer

[Aaron Montgomery]

Hello everyone, and thanks in advance for your answers!

My wife and I are just getting started in REI, and want to make sure we are off to a solid start. We're planning to form an LLC, taxed as an S-Corp. to that end, we're looking at various CPA's and attorneys in the area to help us get started. (Raleigh, NC)

My question for y’all is what questions should we be asking them? What are some good ways you know of to tell if a CPA is going to be a good fit? We have looked specifically for CPA’s that focus on real estate. 

Finally, is there any validity to going with a Nevada or Wyoming LLC, specifically for a two person team aiming for 3-5 rehabs a year, starting out? It seems like more trouble than it's worth at this point.

Thanks, looking forward to your thoughts! 

Aaron

[Costin I.]

Questions for an experienced, trustworthy tax accountant:

• Are you a Tax Preparer, Accountant, CPA, Enrolled Agent, certified public accountant/personal financial specialist (CPA/PFS) and/or Accredited tax adviser?
• What licenses or designations do you have and how do you maintain them?
• How long have you been in the tax business?
• What tax issues do you specialize in? Do you have any specialties?
• Do you specialize or work with other buy and hold or rehab investors?
• What is your experience working within the confines of SDIRA?
• What is your experience working with Series-LLC?
• Do you have references?
• Do you own real estate?
• Do you have room for a new client? Will you file my return in a timely manner?
• Will you have time to meet with me throughout the year?
• What are your fees? What is your fee schedule?
• Do you outsource any of your work? Do you perform the work personally? If not, what is the review process? Who signs the returns?
• What's your privacy policy? Will you share my tax information with any third-parties?
• Do you think taxes, in general, are a good thing?
• Do you think the American people pay enough in taxes?
• Will you represent me before the IRS?
• Do you have the knowledge and experience to handle my tax situation?
• How long, approximately, will it take to finish my taxes?
• Do you believe I'm paying too much, too little, or just the right amount of tax?
• What is your preferred method of communication?
• What are you doing throughout the year to ensure maximizing my tax deductions?
• Retirement planning?

Selecting an (Asset Protection) Attorney:

• how many RE investors have you worked with? 
• how many were sued and what were the outcomes?
• are you a RE Investor? 
• are you working with a preferred CPA? 
• how many asset protection structures did you setup? 
• how many did you litigat for defense? how many successful? 
• Ever litigated for plaintiffs (against an asset protection structure)? 
• how you ensure my proposed structure is accurate, flexible and relevant, so that aren’t any things that will come down the road and increase my taxation, or possibly hurt overall ability to further engage in business planning?