When should I incorporate a Tax Advisor?

[Emily Chapman]

When should I incorporate a RE tax advisor? I currently only own 1 primary residence. I'm house hacking it (STR the finished basement on airbnb) and I want to add another property this year. Just spoke to a really knowledgeable tax advisor (he specializes in real estate) who I want to work with in the future. $5k for his services for the year. I don't think we qualify for the STR loophole based on our current set-up. When should I get started with him? Do I wait until I have 1 or 2 properties under my belt or do I hire him now and the tax strategy will help my property evaluation?

[Chris McCormack]

This is similar to asking when should you fix the check engine light on your car or when should you get surgery to remove a tumor? Chances are you're in need of some advanced tax strategy and it's best to fix the problem (or get out in front of it) sooner rather than later. This is what a qualified RE tax pro provides.