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Updated almost 7 years ago on . Most recent reply

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133
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Dustin Burke
  • Investor
  • Wichita, KS
41
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133
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Do you really need a Tax Attorney?

Dustin Burke
  • Investor
  • Wichita, KS
Posted

When just starting out with fix & flips is it necessary to engage a tax attorney or will a real estate savvy CPA be able to assist with all we will need? 

Can anyone recommend a CPA that is a real estate investor himself?

We will be starting out in Norcal (Central Valley - Modesto - Manteca - Stockton - Lodi - Galt) and/or Reno. 

For more about us follow this URL...    https://www.biggerpockets.com/files/user/DustinB60/file/burke-1-year-business-plan-2018

Most Popular Reply

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378
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304
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Max Gradowitz
  • Bakersfield, CA
304
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Max Gradowitz
  • Bakersfield, CA
Replied

For tax questions, you want to consult a CPA. CPAs are trained in the complexities of taxes.  Attorneys do not know any more about taxes than the average person.  Even "tax attorneys" are typically attorneys that defend you against IRS audits and lawsuits, not typically people you want to go to for specific tax advice.

As @Logan Allec said, you want an attorney for forming business entities like LLCs for asset protection, or for drafting any contracts or agreements necessary for your flip business (partnership agreements, etc).

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