Real Estate Tax Planning and Business Expenses

California Real Estate Q&A Discussion Forum
5yFollow

Real Estate Tax Planning and Business Expenses

Nam Nguyen
San Jose, CA · Member since 2012 · 4 posts · 0 votes

Hello fellow real estate investors, 

I am a new kid starting off in Real estate. I am currently living in California and need to learn more about real estate taxes, does anyone have a CPA (specialize in real estate) who they can refer to in Northern California? 

Also, looking into building a process to track business expenses for real estate (travel, conference, gas, etcs). I heard of Quickbook was a solution, but wondering if anyone can share their experience. Many thanks in advance. 

0Reply
17 views

Most Popular Reply

Bill HamptonBusiness Member
Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 978 votes
5y

Nam,

I recommend finding an accountant that specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Check out stessa dot com. It's free rental income and expense tracking software. It's also easier to learn and use than Quickbooks. 

Good luck and let me know if I can be of assistance.

404-482-3170
Hampton Tax and Financial Services LLC4.7106 Reviews
WebsiteView Page
1Reply
See this reply in the discussion

3 Replies

Jump to latestLatest
  • Bill HamptonBusiness Member
    Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 978 votes
    5y

    Nam,

    I recommend finding an accountant that specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options.

    I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

    Check out stessa dot com. It's free rental income and expense tracking software. It's also easier to learn and use than Quickbooks. 

    Good luck and let me know if I can be of assistance.

    404-482-3170
    Hampton Tax and Financial Services LLC4.7106 Reviews
    WebsiteView Page
    1Reply
  • Rick Trivedi
    Real Estate Broker · San Jose, Dublin CA and Florida · Member since 2017 · 165 posts · 48 votes
    5y

    @Nam Nguyen Most Tax professionals are heads down minting money right now, will be hard to find one this time of the year. After years in real estate, I have yet to find one that I am happy with. I am seriously considering being one myself so have started attending some of the free webinars (if you search you will find those) and there are some really good books on amazon for tax strategies for real estate investors. That will be a good starting point even if you were looking for CPAs that specialize in real estate because you will need that knowledge to vet them. HTH

    1Reply
  • Sonny Vu
    Flipper/Rehabber · Saratoga, CA · Member since 2015 · 49 posts · 16 votes
    5y

    Hi Nam, I am a local silicon valley realtor and investor. Anderson Advisors: https://andersonadvisors.com ; KKOS attorneys and CPA: https://kkoslawyers.com ; Keystone CPA: https://www.keystonecpa.com Those are 3 that specialize in RE. I would reach out to them and see which one is the best fit for you. I currently use KKOS. I'm sure there's plenty more but just to get you started.

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