Attorney & CPA referrals for the formation of investment entity

[Cherisse B.]

I'm looking for a collaborative attorney and CPA duo (is that even a thing?), or a full suite practice that offers both legal and CPA services, ideally in the St Petersburg, Tampa, and Central Florida areas.

Planning to use their services for not only the formation of a real estate investment entity, but also for regular retainer services when needed.

If you have any first hand suggestions, please tell me what your experience was like. Let me know if there are any questions I should ask a prospective firm (CPA and/or attorney) when vetting, or things I should look out for from your experience. Looking forward to your recommendations and feedback! Happy New Year everyone!

[Andrew Schutsky]

Hi Cherisse - We're also looking for the same in the same area! What type of investments are you looking for? We should connect! 

[John Thedford]

You can EASILY form an entity on sunbiz.org. I would talk to a CPA first to determine what the best type of entity is for your needs. My CPA just suggested an S Corp so I researched and filed one. Whatever your do, your next step would be to get an EIN which you can do on IRS.gov. There is a technicality if you do an LLC. DO NOT CONFUSE an LLC or S Corp as having a shield against creditors. That is why you get INSURANCE. I currently carry 1M liability on my rentals. I am starting a new business adventure soon and that will require E&O insurance. My new company is Wealth Realty And Property Management, Inc.

[Patricia Corsetti]

@Cherisse Buddy Hi!

I highly recommend Vardy & Ambrose CPA firm.

Located in Seminole, Florida. Not too far from St. Pete.

[Bill Hampton]

Cherisse,

Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck and let me know if you have any questions.

[Cherisse B.]

Hi @Andrew Schutsky, happy to connect. Sending you an invite to connect and a message regarding our progress thus far.

[Cherisse B.]

Thanks for the feedback @John Thedford. If we were setting up an entity as the sole proprietor, we'd probably settle for setting it up the way you suggested. It's certainly much cheaper going that route.

However, we are 2 unmarried individuals, so we want to make sure we are structuring the entity with the appropriate legal operating agreement(s) and an optimal tax structure. 

[Cherisse B.]

Thanks for referral @Patricia Corsetti, we are are reaching out to them for an interview. Happy New Year!