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User Stats

8
Posts
8
Votes
Anthony Cole
8
Votes |
8
Posts

Looking for new CPA for tax advice, we own 4 properties (9 Doors) in WA, OR, and CA

Anthony Cole
Posted Jul 19 2024, 14:55

Hoping to connect with a CPA or professional tax advisor that has experience in real estate. Our current accountant is wonderful but has limited expertise in navigating the real estate realm. We are excited to discuss strategies to maximize our returns and grow our portfolio while being mindful of complex tax implications.  Looking forward to any and all referrals!

User Stats

126
Posts
62
Votes
Joshua Thompson
Tax & Financial Services
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Princeton, TX
62
Votes |
126
Posts
Joshua Thompson
Tax & Financial Services
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Princeton, TX
Replied Jul 20 2024, 14:01

Hi Anthony! I would highly recommend reaching out to some of the accountants you see active in the forum. BP also has a cool feature that allows you to find a real estate specific accountant. I believe you can click "Build Your Team" then select "Find a Tax & Accounting Pro" 

Good luck!

User Stats

1,982
Posts
730
Votes
Bill Hampton
Tax & Financial Services
Pro Member
  • Tax Strategist, Financial Planner and Real Estate Investor
  • Atlanta, GA
730
Votes |
1,982
Posts
Bill Hampton
Tax & Financial Services
Pro Member
  • Tax Strategist, Financial Planner and Real Estate Investor
  • Atlanta, GA
Replied Jul 20 2024, 14:36

@Anthony Cole

I recommend finding an accountant who specializes in real estate taxation and tax planning. You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

Good luck.

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User Stats

1,065
Posts
456
Votes
Zachary Jensen
Tax & Financial Services
#2 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • San Diego, CA
456
Votes |
1,065
Posts
Zachary Jensen
Tax & Financial Services
#2 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • San Diego, CA
Replied Jul 21 2024, 07:14
Quote from @Joshua Thompson:

Hi Anthony! I would highly recommend reaching out to some of the accountants you see active in the forum. BP also has a cool feature that allows you to find a real estate specific accountant. I believe you can click "Build Your Team" then select "Find a Tax & Accounting Pro" 

Good luck!


 This is the way. We cant promote our firms on BP directly! 

User Stats

7,773
Posts
3,330
Votes
Basit Siddiqi
Pro Member
  • Accountant
  • New York, NY
3,330
Votes |
7,773
Posts
Basit Siddiqi
Pro Member
  • Accountant
  • New York, NY
Replied Jul 25 2024, 07:14

You have propertes across different states, make sure to work with a professional who understands multi-state taxation and real estate taxation.

Just a friendly reminder that each state operates differently - some treat bonus depreciation differently and provide different tax credits / deductions.

Best of luck

User Stats

126
Posts
62
Votes
Joshua Thompson
Tax & Financial Services
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Princeton, TX
62
Votes |
126
Posts
Joshua Thompson
Tax & Financial Services
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Princeton, TX
Replied Jul 26 2024, 08:01
Quote from @Basit Siddiqi:

You have propertes across different states, make sure to work with a professional who understands multi-state taxation and real estate taxation.

Just a friendly reminder that each state operates differently - some treat bonus depreciation differently and provide different tax credits / deductions.

Best of luck

This is gold! Do not overlook this. I've seen mistakes regarding multistate returns and bonus depreciation and it causes a LARGE swing in state taxes if done incorrectly.