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Updated over 2 years ago on . Most recent reply
Tax advisor/Tax prep
I have decided to move on from the family accountant who has little background in real estate. I just purchased 12 units across 4 buildings, which brings my total portfolio to 14 units 5 buildings. I would classify my knowledge as weak in the tax realm. I'm looking for tax advisor/prep suggestions in the Northern Colorado area. I understand that today's technology makes it easy to do business with anyone almost anywhere. Therefore, I'm open to any quality candidate. Suggestions?
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
Pro Member
#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
@Account Closed
The solution is to amend your prior tax return and remove it as income. It never was income, it was a loan.