Looking for a CPA in the Philadelphia or Delaware County Area

Personal Finance
9yFollow

Looking for a CPA in the Philadelphia or Delaware County Area

Stephanie Knox
Drexel Hill, PA · Member since 2016 · 35 posts · 11 votes

I'm wondering if anyone can recommend at good CPA in the Philadelphia or Delaware County area? Also I never actually worked with a CPA so are there any specific questions that I should ask to make sure they are a good fit especially just staring in REI? Thanks!

0Reply
52 views

Most Popular Reply

Dave Van HornPro Member
Fund Manager · Wayne, PA · Member since 2009 · 1k+ posts · 1k+ votes
9y

@Stephanie Knox

I would check out @Brandon Hall, if you want to do it virtually. He's online based but he's real estate specific and also a writer here on BP.

If you're interested in talking to someone in person, you could also try my colleague Chris LaSpada who operates in the southeast PA area.

Best,

Dave

Podcast Guest on Show #273
3Reply
See this reply in the discussion

9 Replies

Jump to latestLatest
  • Stephanie Knox
    OP
    Drexel Hill, PA · Member since 2016 · 35 posts · 11 votes
    9y

    @Jake Hottenrott Just read both blog posts and great information. I guess I was thinking it was smart to have a CPA close to me for face to face interaction just to be sure nothing goes wrong, but I should be saying to myself : make sure they are equipped and savvy enough to work from afar! So now that my mindset is shifted I can look for the best CPA for me no matter their location. Great posts and great info!

    1Reply
  • Natalie KolodijBusiness Member
    Moderator
    Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes
    9y

    I would say any good CPA (especially those under 50) should be tech savvy enough to work from afar with no issues! 

    Someone like @Jake Hottenrott is a great resource as he's knowledgeable in investments and has his own firm. 

    A handshake with a CPA is nice, but having one who is also an investor and invoked (not just seeing it on paper) is priceless. 

    Podcast Guest on Show Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies
    Kolodij Tax & Consulting
    WebsiteView Page
    0Reply
  • Steven Hamilton IIPro Member
    Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    9y
    Originally posted by @Stephanie Knox:

    I'm wondering if anyone can recommend at good CPA in the Philadelphia or Delaware County area? Also I never actually worked with a CPA so are there any specific questions that I should ask to make sure they are a good fit especially just staring in REI? Thanks!

     Stephanie,

    I have a few colleagues in that area if you'd like a referral just PM me. Otherwise my advice is as follows. 

    You definitely need someone qualified, does not have to be a CPA, could be an Enrolled Agent or an attorney. Just make sure they specialize in tax and have significant experience dealing with real estate investors.

    Here is a great list of questions to ask a potential accountant: http://www.biggerpockets.com/forums/51/topics/7044...

    Also check out the www.NAEA.org page in your search. It should help you find someone local. If someone comes to me, I'll send them your way.

    If you need help in your search or want to verify something don't hesitate to ask.

    For example: I have clients worldwide and things are just as easy as I e-mail them, talking on the phone. I even use Skype and TeamViewer to communicate with clients so I'd highly recommend looking for one of the best with great references that interviews well with you.

    So look for someone you can connect with that works out for your situation.

    Feel free to ask here if you have questions

    [email protected]224-381-2660
    1Reply
  • Dave Van HornPro Member
    Fund Manager · Wayne, PA · Member since 2009 · 1k+ posts · 1k+ votes
    9y

    @Stephanie Knox

    I would check out @Brandon Hall, if you want to do it virtually. He's online based but he's real estate specific and also a writer here on BP.

    If you're interested in talking to someone in person, you could also try my colleague Chris LaSpada who operates in the southeast PA area.

    Best,

    Dave

    Podcast Guest on Show #273
    3Reply
  • Jim KennedyPro Member
    Accountant · Cherry Hill, NJ · Member since 2016 · 173 posts · 201 votes
    9y

    You should ask if they invest in real estate. I am a CPA in Cherry Hill, own and operate a series of residential and commercial rentals in NJ and until recently Texas. I belong to the local REIA (SJREIA) but have lectured dozens of times there and with DIG, HAPCO, and some smaller groups.

    Ask them to define depreciation, and explain how it works so you can understand it and teach somebody else. Ask them what they know about being a real estate professional under code section 469. Ask them if they can explain passive activity loss limitations to you. Ask them to explain a section 481(a) adjustment as it pertains to real estate. Serious experienced real estate CPA's can answer these. I teach all these to new clients.

    A good experienced CPA who will save you money in real estate will not be cheap, so look at it as an investment, not an expense...an investment where you get a return (knowledge, security, and most of all tax savings)

    Jim Kennedy CPA

    1Reply
  • Stephanie Knox
    OP
    Drexel Hill, PA · Member since 2016 · 35 posts · 11 votes
    9y

    @Steven Hamilton II Thank for the reference, there are a lot of good questions that I would never even think of asking! @Dave Van Horn I'm going to check him out shortly and hopefully reach out to both of them and get an idea of what's out there to build a strong team. @Jim Kennedy I have to write these down (and look them up just to get an idea). Hopefully they can break it down clear enough for me to really get a good understanding. thanks so much for the help!

    1Reply
  • Odie Ayaga
    Specialist · Delran, NJ · Member since 2016 · 2k+ posts · 951 votes
    9y

    Hi and welcome @Stephanie Knox! You can get some good info without too much of a time commitment by giving the podcasts with CPAs a listen. @Brandon Hall is on podcast#196 while Amanda Han is on podcast#49 and podcast#167.

    0Reply
  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    9y

    I posted some names in this other thread:

    https://www.biggerpockets.com/forums/51/topics/141...

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free