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Updated over 2 years ago on . Most recent reply

User Stats

20
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13
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Gage Coffman
  • Rental Property Investor
  • Cleveland/Lorain
13
Votes |
20
Posts

Finding the right tax accountant

Gage Coffman
  • Rental Property Investor
  • Cleveland/Lorain
Posted

I'm Almost through my first official year of being a landlord and I've had nothing but great experiences (some good and bad). I'be started up an LLC for my first rental and now need a tax accountant. What are some questions I should ask to find a good one? I want to make sure they're specialized in the field. Any tips on how you all went about finding a good one please let me know. I need one who's willing to sit down and answer some questions as I want to get the biggest tax breaks. Thanks again! update: I currently only have one property and I am purchasing another one December/January. With that being said, what should the average cost be that I would look for?

Most Popular Reply

User Stats

189
Posts
117
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Paul Vail
  • The Triangle, NC
117
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189
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Paul Vail
  • The Triangle, NC
Replied
Great topic!   I'll be looking for one before the end of the year.  One of my first questions would be: how do you want me to run my books?   Spreadsheet per investment with line items for income and expense elements?   (I use LibreOffice for most SS needs).

At what point does the complexity of a project warrant moving to Xero or Quickbooks?  

One checkbook per LLC or one checkbook with appropriate notations/documentation?  

Tax planning gotchas -- how not to run afoul of the IRS?

What are your questions?

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