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Updated about 1 year ago on . Most recent reply presented by

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Looking for an affordable but good bookkeeper in my area

Brenda Hernandez
Posted

Good Evening and Happy New Year! I was wondering if anyone knows of a good bookkeeper that can help me get my 2023 books in order and maintain my 2024 books? I am in the state of MA but have properties in Ma, GA and SC. My properties are STR and Mid-terms, so it would be great if this person has experience/knowledge with STR.

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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied

My response is not in the spirit of the new year festivities, and for that I apologize.

Be careful how you measure "affordable" bookkeeping. Bookkeeping is an intermediate step in handling your finances. The step that matters is the step that follows bookkeeping which is either tax preparation or applying for a loan.

Cheap bookkeeping may feel great temporarily - until you realize that you frugalled yourself out of a loan or that you overpay the IRS or that your CPA will have to charge you twice the usual amount because they have to adjust or redo your books.

Also, hourly rate for bookkeeping is meaningless when you do not know how many hours will be involved.

No, I do not offer bookkeeping. But I do taxes, so I see the sad results of investors trying to "save" on bookkeeping. Bookkeeping for real estate, and for STRs in particular, is highly complex and it will not be cheap if done right.

  • Michael Plaks
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