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Updated 4 days ago, 12/10/2024
- General Manager, Publishing at BiggerPockets
- Denver, CO
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- Votes |
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If you use a CPA or Tax Professional, how did you find him or her?
How did you find your CPA or tax professional?
If you haven't yet found a CPA or tax professional to help you save on your tax bill each year, would you want BP to help recommend a tax professional for you? We're here to help!
Post your thoughts below 👇👇👇👇
The best way to find a CPA firm is to ask your mentors who they work with.
I'm currently in the market for a Tax Pro that can assist with my relatively basic returns and continue to assist with a tax strategy moving forward.
I am actively looking for an REI-friendly CPA in Nevada and am struggling with where to look and how to know if they know what they are talking about. A BP-recommended tax professional in my area would be immensely useful!
Looking for a CPA/Tax Pro in the Atlanta area as I am starting my investment journey.
@Katie Miller
Referral - but make sure it’s a real referral not a “I heard”. It should be from someone who uses that person.
- Chris Seveney
In College I worked for my Tax Accountant for 3 years until I graduated and got a offer I couldn't refuse. I do my own Bookkeeping for my businesses and my clients and recommend him as a General Tax Accountant. Right now my real estate portfolio is not big enough to justify a Real Estate CPA or Tax Accountant yet.
Happy to recommend him if anyone is looking. Please reach out for his info.
- Cliff Benner
If you can find a referee then perfect. Otherwise, there are over 20+ CPA professionals/firms here in Biggerpockets specializing in real estate (key point). Location is not as important as most of them work remotely. Set up a few calls and see who is a better fit for you.
Best of luck.
Im currently looking for a RE tax professional/preparer in San Diego, CA. Obviously they need to specialize in real estate rentals, holdings, and LLC.
Any help and direction would be great! BP would be great too but I do prefer to work in person so hopefully someone local
Eddie
Quote from @Eddie Ray:
Im currently looking for a RE tax professional/preparer in San Diego, CA. Obviously they need to specialize in real estate rentals, holdings, and LLC.
Any help and direction would be great! BP would be great too but I do prefer to work in person so hopefully someone local
Eddie
@Eddie Ray I found a guy in San Diego that went to West Point and specialized in Real Estate - he has been great for me!
Found mine while attending a real estate/small business tax conference.
Quote from @Cliff Benner:
In College I worked for my Tax Accountant for 3 years until I graduated and got a offer I couldn't refuse. I do my own Bookkeeping for my businesses and my clients and recommend him as a General Tax Accountant. Right now my real estate portfolio is not big enough to justify a Real Estate CPA or Tax Accountant yet.
Happy to recommend him if anyone is looking. Please reach out for his info.
When would you say it is worth it to have a CPA to work with? Do number, size, or area of investments owned play the biggest role in that decision?
Quote from @Luke Maas:
Quote from @Cliff Benner:
In College I worked for my Tax Accountant for 3 years until I graduated and got a offer I couldn't refuse. I do my own Bookkeeping for my businesses and my clients and recommend him as a General Tax Accountant. Right now my real estate portfolio is not big enough to justify a Real Estate CPA or Tax Accountant yet.
Happy to recommend him if anyone is looking. Please reach out for his info.
When would you say it is worth it to have a CPA to work with? Do number, size, or area of investments owned play the biggest role in that decision?
I would say once it can support paying the $2k-$3k a year for them to dig into just the real estate for you. Once I get to a point that it is making enough per month that I feel comfortable taking money out of the business that would be when I get to the point that it is worth have a specialist assist me in all deductions, credits, and future items that will help me to transfer from a W2 to working for myself fully. Then i would probably want a CPA firm that has specialist that know the state laws for my portfolio so I can benefit even more. Until then, the general Knowledge a tax accountant has on real estate will be sufficient for the price and benefit I get.
I think my personal guideline will be 10 properties, or $2k in cash flow a month. At that time, i will have the knowledge and network to expand and build my portfolio at an increasing speed and then it will be part of my growing pains for my business.
I will most likely have that CPA do my returns for the real estate and then have my Tax Accountant still do my Personal, helps with Checks and Balance and cost savings.
- Cliff Benner
Quote from @Cliff Benner:
Quote from @Luke Maas:
Quote from @Cliff Benner:
In College I worked for my Tax Accountant for 3 years until I graduated and got a offer I couldn't refuse. I do my own Bookkeeping for my businesses and my clients and recommend him as a General Tax Accountant. Right now my real estate portfolio is not big enough to justify a Real Estate CPA or Tax Accountant yet.
Happy to recommend him if anyone is looking. Please reach out for his info.
When would you say it is worth it to have a CPA to work with? Do number, size, or area of investments owned play the biggest role in that decision?
I would say once it can support paying the $2k-$3k a year for them to dig into just the real estate for you. Once I get to a point that it is making enough per month that I feel comfortable taking money out of the business that would be when I get to the point that it is worth have a specialist assist me in all deductions, credits, and future items that will help me to transfer from a W2 to working for myself fully. Then i would probably want a CPA firm that has specialist that know the state laws for my portfolio so I can benefit even more. Until then, the general Knowledge a tax accountant has on real estate will be sufficient for the price and benefit I get.
I think my personal guideline will be 10 properties, or $2k in cash flow a month. At that time, i will have the knowledge and network to expand and build my portfolio at an increasing speed and then it will be part of my growing pains for my business.
I will most likely have that CPA do my returns for the real estate and then have my Tax Accountant still do my Personal, helps with Checks and Balance and cost savings.
Quote from @Luke Maas:
Quote from @Cliff Benner:
Quote from @Luke Maas:
Quote from @Cliff Benner:
In College I worked for my Tax Accountant for 3 years until I graduated and got a offer I couldn't refuse. I do my own Bookkeeping for my businesses and my clients and recommend him as a General Tax Accountant. Right now my real estate portfolio is not big enough to justify a Real Estate CPA or Tax Accountant yet.
Happy to recommend him if anyone is looking. Please reach out for his info.
When would you say it is worth it to have a CPA to work with? Do number, size, or area of investments owned play the biggest role in that decision?
I would say once it can support paying the $2k-$3k a year for them to dig into just the real estate for you. Once I get to a point that it is making enough per month that I feel comfortable taking money out of the business that would be when I get to the point that it is worth have a specialist assist me in all deductions, credits, and future items that will help me to transfer from a W2 to working for myself fully. Then i would probably want a CPA firm that has specialist that know the state laws for my portfolio so I can benefit even more. Until then, the general Knowledge a tax accountant has on real estate will be sufficient for the price and benefit I get.
I think my personal guideline will be 10 properties, or $2k in cash flow a month. At that time, i will have the knowledge and network to expand and build my portfolio at an increasing speed and then it will be part of my growing pains for my business.
I will most likely have that CPA do my returns for the real estate and then have my Tax Accountant still do my Personal, helps with Checks and Balance and cost savings.
Not at the moment, I will one day do cost segregations on my properties and get into that, but that is probably going to be about the time that I look into getting a CPA for Real Estate.
I see the benefits in it, but not at my current position, I have lots of losses currently and do not need that benefit right now. I need to learn acquisitions and financing before I want to get into Cost Segregation. Once I get better at purchasing and adding to my portfolio, I know I will have the knowledge to be able to survive without needing the benefits of cost segregation. Allowing cost segregation to be another growing pain and benefit to getting better at real estate investing without feeling overwhelmed.
- Cliff Benner
#3 New Member Introductions Contributor
- Specialist
- West Palm Beach, FL
- 1,441
- Votes |
- 4,256
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#3 New Member Introductions Contributor
- Specialist
- West Palm Beach, FL
BP has a lot of great CPAs on the platform that you'll see answering a lot of BPers questions. I've heard people have had a great experience working with them! @Ashish Acharya @Michael Plaks
Im searching for a general tax pro in CA that is familiar with taxes for a timeshare management business.
If anybody has a referral, I'd greatly appreciate it, or if you are a tax professional yourself, please reach out.
Your real estate is part of your tax return. It isn’t separate unless they are in a corporation or partnership. I am a real estate tax strategist
- Rental Property Investor
- New Orleans, LA
- 455
- Votes |
- 623
- Posts
@Katie Miller I found mine at a local REIA. BP listing real estate friendly CPAs is a good idea though.
- Stephen Keighery
Quote from @Chris Picciurro:
The best way to find a CPA firm is to ask your mentors who they work with.
Great advice for setting yourself up for success.
@Katie Miller
I came here because I just had my yearly with my new accountant. I've gone through 4 different ones in the past 4 years and I've finally found a good one.
I had recommdations from people who didn't do real estate, terrible. I used one frequently discussed in BP, TERRIBLE AND EXPENSIVE. Now I found one that specializes in real estate investors that was recommended by an online mentor. This one is good.
Hello. I recently bought my fist long-term rental and I am currenty in the market for a CPA who specalizes in REI. I am in the St. Louis area and would love to find someone local, but any other recommnedations would be greatly appreciated as well. Thanks in advance.
Quote from @Katie Miller:
How did you find your CPA or tax professional?
If you haven't yet found a CPA or tax professional to help you save on your tax bill each year, would you want BP to help recommend a tax professional for you? We're here to help!
Post your thoughts below 👇👇👇👇
@Katie Miller hello! I´m an out-of-country investor looking for help with my legal and tax structure.
Since I´m just starting out, I need help with the basics: setting up the LLCs that we will use (looking to invest in different states), getting an ITIN, opening bank accounts, and identifying the tax strategies that we will employ for the deals we want to make.
I appreciate your recommendations.
- General Manager, Publishing at BiggerPockets
- Denver, CO
- 611
- Votes |
- 443
- Posts
@Oscar Meneses Check out the BP recommended tax partners here! https://www.biggerpockets.com/... They are all fabulous and can help you :)