Best questions to ask when interviewing a new CPA firm?

[Lee Huffman]

For many years, I prepared my own tax returns, but as life got busier at work, with a young family, and buying more properties, I turned to an old friend (CPA) to do our taxes.  He did a decent job, but I don't feel that we receive the guidance and strategic help that we need as we expand our flipping and rental property portfolio.

We have an interview coming up with Tom Wheelhouse's firm ProVision (Rich Dad, Poor Dad recommended)(and am looking for a couple other firms to interview) and was wondering what questions you would ask to help make a decision if a firm is the right fit for your real estate business?

Thanks for your responses!

Lee

[Brandon Hall]

@Lee Huffman @Brent Paul While asking if a CPA owns investment property may be a decent criteria, I wouldn't place much emphasis on it.

Think about it - how many people on BP are bad investors? What's to say that your CPA who "owns rental property" isn't losing tons of money on his investments? Simply "owning" property is a poor indicator of how well a service will be provided.

A better question to ask is "what percentage of your client base is made up of real estate investors" or "how many real estate investors do you service?"

When I tell potential clients that over 90% of my client base is made up of real estate investors that came from BP, they get excited because they know that means I'm working in the industry every single day, seeing a lot of different investing models, developing creative strategies to reduce tax liabilities, and staying current on regulations that may affect our precious tax loopholes.

Now, couple the above with a "do you own investment real estate" question and you may be on to something. Point here is: don't just assume that because someone owns investment real estate they are qualified to help you.