House Hacking Tax Advice?

[Colten Roney]

I need help with finding a good CPA. I live in Provo, Utah and I've recently decided to become a REI. I bought a house a few months ago and am currently renting the other rooms to my friends (they're covering the mortgage). I know uncle sam wants his money but I'm hesitant on trusting the first CPA I come across. Does anyone know of any real estate-investment-minded CPAs in Utah?

What is the best way to go about finding one other than the local REIAs? What are things I should look out for? How much should I be paying for their services?

You don't have to answer all these questions...

[Brian Schmelzlen]

Hi @Colten Roney,

The best way to find a good CPA, especially one that knows about real estate investments, is to get a referral. A referral from someone of BiggerPockets or a local REIA should hold a lot of weight. Then you will want to talk to that CPA. That person being knowledgeable counts for a lot, but it is also very important that you are comfortable with that person.

In terms of how much you should be paying, it really depends upon your situation.  Someone with a W-2 job and a rental property or two will be charged a lot differently than someone with multiple K-1s, brokerage accounts, etc.  While price definitely does matter, I would ask more about what kind of services you will be provided throughout the year and how you are being charged (set fee, hourly- there are advantages and disadvantages to both).