Seeking CPA to handle form 1065

[Account Closed]

This is my first year putting a single property into a LLC. I am having issues and confusion on trying to fill out form 1065 so I am looking for some guidance.

Is there anyone in the Sacramento area that is specialized in real estate and know where and how to enter the deductions needed like section 179 and 199a. We qualify for QBI and i just dont want to miss deductions that may help us.

I am also not really sure if this category is the right area to be posting this help. Please advise if not.

[Eamonn McElroy]

@Account Closed

If you want someone local, I'd ask local investors for referrals or your local REIA.

The most important issue right now is determining if you truly have a 1065 obligation, as it's not clear from your OP.

Does the LLC have multiple members? If yes, are there members other than you and your spouse? What happens if the only members are you and your spouse, and you live in a community property state...like California? Some rhetorical questions to think about...

If you truly have a partnership filing obligation, any reputable CPA is going to ask to see a copy of the operating agreement.  I suggest you memorialize the agreement in writing and get it signed by all parties if it isn't in writing yet.  An attorney would be of tremendous help here...

Then... if you want to hire a professional, you'll need a trial balance, P&L, balance sheet, and general ledger in excel format.  If you don't have clean, ready to use financials that's something you'll need to tackle.

Most reputable tax firms will not allow you to watch over the shoulder of tax staff while they prepare your tax returns.  That is more along the lines of simple 1040s handled by the strip-mall, seasonal tax preparation businesses as noted by @Michael Plaks.

More important...sometimes it's better to stick to your core competency...  Do you really need to know how a watch works?  Or do you just need to now how to tell the time?  It might be better to seek out a tax pro who can explain tax in layman's terms and put planning opportunities on your radar, rather than spend time teaching you the hard mechanics of how your tax return calculates and works.