What type of CPA should I hire for my RE LLC?

[Quintin Green]

Hey Yall, what type of CPA should I hire for my RE LLC? I need someone to help make sure Im writting off the right stuff, to make sure my LLC is set up correctly, and all the other legal stuff. If someone could help me out, i would greatly appreciate it!

[Jonathan Hayek]

Knowing deductions and depreciation vs. LLCs and asset protection vs. tax strategy are not necessarily the same person. 

A typical CPA in any firm can do your taxes for you legally but will probably not save you the most amount of money on your taxes because this person is likely not an expert in real estate tax law. Similarly, this Joe or Jane CPA will probably not be the best tax strategist either because they don't know the fine details of real estate tax law. However, this person will probably be the cheapest - probably $1500 or less if things are relatively straight forward. All CPAs are not created equal. Do not assume your CPA knows all of the ins and outs of real estate tax law. 

You can hire a CPA that is an expert in Real Estate tax law (like Keystone). They will save you massive amounts of money in taxes, because they know the finer details of tax law specific to real estate. They will also help you strategize when buying and selling short term vs. long term to minimize your tax liability. You will also pay significantly more for these services. Depending on your volume, it could be worth it. 

LLC set ups (asset protection) is a bit of a different beast. A great CPA can give significant guidance in this area, but asset protection is not a CPA's specialty. For most investors, asset protection and setting up LLCs is not rocket science, so the advice a great CPA gives will probably work for you. If you are doing serious volume, you need to consult with an asset protection attorney who specializes in real estate. You will also pay a fair amount for this service, but if you have significant assets to protect, it's probably worth it.