Tax Planning strategies

[Quinton Thomas]

I'm Curious to see how other REI handle their taxes and when do they start the planning process. I've talked to a few CPAs in my area and very few of them know the many tax benefits that come with RE. Any recommendations on CPA's who are familiar with RE investment strategies?

[Jake Baker]

@Quinton Thomas Great bookkeeping is the foundation for great tax planning. Newer investors should focus on getting their books in order so they can have clarity on their business finances. CPAs typically charge separately for Tax Prep and Tax Advisory. Focus first on paying a real estate focused bookkeeper and tax preparer so you can focus on revenue-generating activities for your business. Once the cashflow makes sense, pay for the Tax Advisory... it's worth it.