Account in multiple states

[Matthew Rivera]

Hello,

I will be purchasing property in Philadelphia and the NYC/Tri-state Area, will I need an accountant in each of these states? Or can I just have my NYC accountant? What makes the most sense?

[Daniel Hyman]

@Matthew Rivera

Your current accountant in NYC should be able to handle your PA return as well. Although each state has some individual nuances, I would imagine that your current accountant is competent enough to handle both states. That being said, don't rely on this alone. Go ahead and ask the accountant if he/she can handle both states. 

Also (and this is more important than location) make sure that the accountant is well versed in real estate taxation.