How important is it to have an in-state CPA?

[James Kojo]

I'd be interested in hearing from both CPA's and Real Estate Investors on this topic.

I'm conducting a search for a personal CPA who specializes in REI. I live in California, and I invest in multiple states. What are the advantages and dis-advantages of using a CPA who is not in CA? How important is it to have someone with knowledge of my local state vs a generalist who may have a deep understanding of federal taxes?

Thanks!

James

[Chris Clark]

Honestly for someone in California I would think it would be highly beneficial to have someone in state. California's state taxes are much different than most of the rest of the country in my experience. That's not to say that you can't find a good CPA that is elsewhere but it would be something that you should verify that they understand CA law if you find someone out of state.