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Updated 7 months ago on . Most recent reply

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Ashley Campbell
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8
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Does a newbie need a RE focused CPA up front?

Ashley Campbell
Posted

Looking to by one or two LTR props prior to year-end.  Working on building my team around me and trying to decide if a RE focused CPA is needed for "Tax Strategy" at this point.  We are W-2 employees with pretty straightforward tax filing at this point.  Eager to learn about RE tax write-offs, how to document/keep up with expenses, what can be written off, etc. at this point...However, the 3 RE focused CPA's I've visited with want $5,000 annually for a couple hour sessions a year and a few recorded classes and other resources, which does not include tax preparation.  I'm having a hard time justifying this cost when I'm only getting started.  Thoughts?  Recommendations?  Any resources out there that anyone highly recommends?  TIA! 

Most Popular Reply

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28,173
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,272
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28,173
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Ashley Campbell:

I use a professional CPA firm to handle my taxes and they are great with strategies. I have five LLCs, a holding company, and a trust. It costs less than $5,000 a year and I spend more than a couple hours with them.

  • Nathan Gesner
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The DIY Landlord Book
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