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Updated over 1 year ago,
Best CPA recommendation for high net worth?
I have an unusual situation. I’m at the point where I’ve outsourced myself out of my (non real estate) business and it now runs without me. As a result of the success I’ve had with my decade old business, I have high cash flow, which I re-invest into real estate.
I now spend the majority of my time working on my real estate investments and spend hardly any time on my business. As I spend at least 30 hours per week working on real estate and less than 10 on my regular business, I should be able to be considered a real estate professional from a tax perspective.
In addition, I have the option to spend 185 days living outside of the USA, which may offer me state tax exemptions.
I currently pay a fair amount of federal taxes and I know I’m leaving alot of money on the table. I’d love to speak with someone who can help me offset my regular earnings with real estate and who can also use my tax residency to further maximize deductions.
It’s not how much you make but how much you keep.
Any recommendations for a top level CPA who can help me create a long term tax strategy?
I own 12 units, a mix of LTRs, MTRs, and STRs: 1 in Indiana, 9 in Kentucky, and 2 internationally.