How to find and vet a good CPA/Tax adviser

[Justin Osborne]

We have been getting by on our own for the past 10 + years but are honestly past the point of needing professional help with our taxes and tax strategy, but just do not know where to start on finding a good real estate investor focused tax professional. Any tips with where you all have found stellar tax folks?

Thanks in advance, pretty new to this Bigger Pockets experience!

[William Joel Idleman]

Hey Justin, I'm finishing my EA exam now and combined tax preparing/planning with my financial planning business.  I think it depends on the level of service you need as to what type of advisor you're needing.  Before I went independent I went to work for a CPA that specialized in farms and real estate investing for two years.  After the first year, I realized that I also need to be investing in real estate not just the stock market.  So the first thing I would want out of a tax preparer or accountant is someone who also invests in real estate.  The second thing I would want, is someone who enjoys it.  I enjoy it.  That's why I listen to the podcasts.  That's why I'm on here answering you.  That's why I pick up every book I can find about real estate.  If a person enjoys real estate and taxes, then it's really easy to stay up to date on the changing tax laws.  Third, is experience.  This varies depending on the person.  People may say they want someone with 5 or 10 years of experience, or may go off of google reviews.  That's definitely one way to do it.  Experience matters but not solely in years.  Someone could be working at a CPA office for 5+ years and never have filed a schedule E.  It's important to find out their level of experience but not just the total time.  Last, I will do business with someone who has less experience if they pick up the phone, or call me back within a timely manner, every time I call.  I highly value that level of service.

I would start with these questions for yourself;
What all do you want your tax planner/accountant to do?
How hands on would you like to be?

I would as the tax pro these questions;
I need "X" services.  How many clients have you served for those specific services?
How many properties do you own?
What is your real estate strategy?
What is your tax strategy with real estate?
How long does it normally take you to respond to an email or a call?