CPA in MD for Vacation Rental Airbnb Business? General CPA ?'s..

[Rebecca Cramer]

So I just started an airbnb business with a vacation home we bought this past January in Ocean City Maryland. I wanted to find out if it is important to get a CPA that is local or if it matters if they are out of state and why. We live in Catonsville Maryland so I guess I should find a CPA in Catonsville where we live full time? 

Also, can I trust a CPA that is a good general CPA or do I need one that specifically is an expert in real estate. Even more, someone that specializes in Vacation Short Term rental businesses? How do I know they specialize in those areas? Because I know a lot of people will say "oh yeah I do vacation rental businesses.." but how do you really know they are GOOD and an EXPERT in all those loop holes and tax benefits I can get as a real estate investor, small business owner, vacation rental business owner, ect...

Any help and direction would be great!

Thank you!

[Alan Rohrer]

@Rebecca Cramer

Great questions to have early on!

For CPAs, location doesn't matter much- pretty much everything can be done virtually at this point. If you ever look for an attorney, those should be local.

Additionally, the more specialized someone is, the more value they can add. At the minimum, I'd recommend finding a CPA that specializes in real estate. They should have a solid working knowledge of the rules governing short term rentals. However, if you find someone that does JUST short term rentals, then by all means go for that.

You're right- many people will claim to be knowledgeable. A great way to filter out a "generalist" CPA would be to start your search here on BP. Most on here work remotely and specialize in real estate. You can also take a look at their website/LinkedIn profiles to see if they are marketing to the real estate industry... or to just anyone who will pay them.

Once again, great thought process as you're starting out and best of luck in your search!