How do I find the right CPA?

Question

Do I even need one? Is a CPA, bookeeper, financial advisor, and tax preparer the same person? Or do I need one of each? There's just so much information out there and too many "gurus" hawking their wares that it's entirely overwhelming. Can someone point me in the right direction please.

For background, up until last year I had a W2 job, owned 3 SFRs, one duplex, all of which I self managed, so I basically did my taxes myself using turbo tax. However last year there were quite a few events and now find myself needing a pro. First I sold one SFR, bought an 11 unit apartment complex, transfered to a different state, got medically retired, and returned home.

What I'm looking for is someone to do my taxes (still), but also to give me some business and financial guidance. Also, a general life coach would be very helpful and if there is one who is all of the above, even better!

Daniel Hyman · Answer

@Ben Rodriguez

You may want to contact a CPA first. Many are well connected with other service providers and can provide reputable recommendations for the other roles you mentioned.

Patricia Steiner · Answer

First, congrats on your success...you certainly have transitioned well from W2 to all things dirt. My recommendation is to build bench strength. Real Estate is too complex to "go it alone" or to rely on one resource who most likely will not be an expert in more than one area. A great way to find a CPA/bookkeeper is to ask your banker - one who works in commercial lending or small business. It sounds like your life has "turbo-ed" beyond Turbo Tax - so I recommend finding a resource who specializes in taxation. Don't expect attorneys, CPAs, bankers and others to give you business advice. Their role is to keep you out-of-trouble; and you'll never want to substitute someone's else judgment for your own. The reality is you are the business person. You are running a business. And, you can find mentors/fellow sufferers (as I like to call us) on BP, in professional groups in your community, and more. A life coach can help you define goals and next steps. Just do an online search on "find a life coach" - and several directories will appear that will assist you in finding someone in your market. Again, congrats. You're doing a lot extremely well already. Best...

Ben Rodriguez · Answer

Thanks you Patricia!

How do I find the right CPA?

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