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Updated 7 months ago on . Most recent reply

Does a newbie need a RE focused CPA up front?
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!
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- Real Estate Broker
- Cody, WY
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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
