What does your CPA do for you? Also LLC question.

[Stephen Brown]

Pretty straightforward question but what does your CPA do for you? I just send them all my own bookkeeping that I do via stessa and he does all the tax work. However I've heard other investors using their CPA's for bookkeeping too and other services. 

Does anyone also have someone that they would recommend speaking to in regards to setting up a Wyoming/Montana/Delaware LLC?

[Tom Malloy]

If you're not sure what your CPA does for you then you have the wrong CPA. CPAs do not all know about every type of business so you may be missing some valuable tax strategies because your CPA simply doesn't specialize in REI. We recently changed our CPA to one that primarily works on REI taxes and business strategies. Night and day difference! Our previous CPA did not know about accelerated depreciation and other key REI strategies while actually missing the deduction on a 1031 exchange last year. Our CPA is Wealthability and the CEO, Tom Wheelwright has written some great books through the Rich Dad Poor Dad series. They also have great referrals for cost segregation engineers and asset protection attorneys. We are really seeing a huge difference. Note: I would get Tom Wheelwright's book on taxes and read it just to start educating yourself on REI taxes. There's a lot to know and you want to have a foundation of understanding before you start talking to your new CPA. I also read The Tax Cure. A very valuable book on REI taxes too.