Search for CPA!

[Alex Wollin]

Hello everyone! I am in search of a CPA in the Seattle area to assist with my financials and future investing plans. What are some of the things you look for when working with a CPA? Any advice or help would be appreciated!

[Julien Jeannot]

1. Hey Alex
2. I'm a CPA, but not the tax kind. I know a bit and somewhat dangerous, but I also prefer to use a full time professional.

Here my basic list of what I look for:

Credentials and Licensing: Ensure that the CPA is licensed and in good standing with the relevant state licensing board. Look for designations such as "CPA" or "Certified Public Accountant" after their name.

Experience in Real Estate: Look for a CPA who has experience working with real estate investors and is familiar with the specific tax laws, deductions, and strategies that apply to your industry. Real estate taxation can be complex, so having a knowledgeable CPA can make a significant difference. This is one is key for me.

Track Record and References: Request references or testimonials from other real estate investors who have worked with the CPA. A reputable and experienced CPA should be able to provide you with references or examples of their past work.

Availability and Responsiveness: Make sure the CPA is accessible and responsive to your needs. Real estate transactions and tax issues may require quick action, so having a CPA who can promptly address your questions and concerns is essential.

Fees and Cost Structure: Inquire about the CPA's fee structure. Some may charge hourly rates, while others may have fixed fees for specific services. Consider the value you will receive relative to the cost. You are bound to have questions throughout the year, so keep in mind the general inquiry and counsel outside of tax time.

Services Offered: Verify that the CPA offers the specific services you need. For real estate investors, this may include tax planning, tax return preparation, audit support, entity structuring advice, bookkeeping and financial statement preparation. For accredited investor certification, there are rather cost effective options as low as $60, but bonus if the CPA can do it.

Technology and Communication: A technologically adept CPA can streamline processes and provide you with access to digital records and reports. Also, ensure that the CPA communicates effectively and can explain complex tax matters in a way that is easy to understand. Ask about how they receive their client's data for the services you required. Quickbooks, only bookkeeping platforms, ects.

Continuing Education and Up-to-Date Knowledge: Tax laws and regulations are subject to change. A reliable CPA should stay up-to-date with the latest tax laws and industry trends through continuing education and professional development.

Ethics and Professionalism: Look for a CPA who upholds high ethical standards and professionalism in their practice. You want to work with someone you can trust.

Compatibility and Rapport: Building a good working relationship with your CPA is important. Look for someone you feel comfortable with and can communicate openly and honestly.