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Updated 4 months ago on . Most recent reply

User Stats

6
Posts
10
Votes
Andres N Herrada
  • New to Real Estate
  • Atlanta, GA
10
Votes |
6
Posts

Need a CPA

Andres N Herrada
  • New to Real Estate
  • Atlanta, GA
Posted

I recently bought my first property and would like to squeeze out all the RE benefits possible from that. Im currently running a couple of businesses and would like someone that could help me get the most out of tax season. 

  • Andres N Herrada
  • Most Popular Reply

    User Stats

    8,153
    Posts
    3,695
    Votes
    Basit Siddiqi
    • Accountant
    • New York, NY
    3,695
    Votes |
    8,153
    Posts
    Basit Siddiqi
    • Accountant
    • New York, NY
    Replied

    Your profile mentions that you are a roofing contractor.

    You may want to have a conversation with an accountant to see if you are eligible to clam real estate professional status. if you can claim real estate professional status, you can offset your rental losses with income from other sources such as business income or wages.

    Best of luck!

    business profile image
    Basit Siddiqi CPA
    4.9 stars
    80 Reviews

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