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Updated almost 6 years ago on . Most recent reply
Who is the correct Accountant?
If you already have a good business accountant from a previous venture is it worth finding a real estate specific accountant?
Thank you in advance everyone!!
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#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
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#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
"If you already have a good business accountant from a previous venture is it worth finding a real estate specific accountant?"
It's a difficult question... You should gauge his/her comfort with tax law as it pertains to real estate.
If you only have a few rentals and a standard W-2 job (i.e. you are not a real estate professional) a competent CPA who is not a rock star in real estate tax, but can play a few chords, will probably be able to add 80-100% of the same level of value as an RE CPA.
On the other hand, if you are a RE professional, own lots of rentals and/or interests in syndications, and do value add/repositioning....get yourself a RE CPA.