Questions to ask accountant for establishing LLC partnership

[Steven Whalen]

My business partner and I have an initial meet and greet with an accountant to discuss setting up the business. We just established an LLC and want to discuss tax parameters, financials, cash flow, etc.. We are a year or so away from purchasing an investment property and will be stashing money away until then. Any specific questions to ask to help organize the company?

[Lance Lvovsky]

Questions to ask your CPA:

1. What are your fees?

2. DO you work with real estate investors?

3. Is an LLC structure the best option for my specific facts and circumstances?

4. Can you review an Operating Agreement as it pertains to the tax implications and partners' capital accounts?

5. Will you be applying for an EIN?

6. Do you work with attorneys who you can refer me to?

7. Should we open a business bank account?

8. What type of records should we maintain?

9. Etc.