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Updated almost 9 years ago on . Most recent reply
How Do I Find a Good RE CPA for Taxes?
Hello -
First time investor here with a somewhat complicated tax situation (well, complicated to me anyway, lol).
I am the primary investor / money-man, just started my investments in September 2015, and my rental properties are being managed by 2 separate managing partners in Wisconsin, while I reside in Illinois and have a full time job in an unrelated industry.
Both rental business partnerships are under LLC's, and the LLC's are pass-through entities for tax purposes. I received a 1099-Misc from one partnership, reporting the net rental income received for 2015. I received no income from the other partnership, as it is not yet profitable. I have also received my W2 from my day job. No other investment income of any sort (besides a puny bank account interest).
My main need right now is someone to help me file my personal taxes and make sure I've reported everything correctly, taken all deductions I'm entitled to, and offer tax guidance for the future. So, I'd like to find a good CPA to work with long term. Does he need to be local to my area? Are the local tax chains (H&R Block, Hewitt Jackson) good enough? What about online resources like TurboTax?
Would appreciate any advice and references. If you are an available CPA yourself, please message me with contact info and rates. I have all my financial documents in order and am looking to file my taxes before April 18, 2015, of course.
Thank you very much,
Dave
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This is a great first step. Get referrals from people who are where you want to be. I have vast majority of my team from referrals. They are people I trust who use them and refer them. I wouldn't worry about rates as much as I would performance of the CPA (or any business partner.) Good ones (any vendor) are worth their weight in gold.