Good Massachusetts CPA for Real Estate Investors?

[Joe Rinella]

Hi everyone,

I'm planning to open an LLC soon and begin buying and renting out multifamily properties in Massachusetts. I'm looking for a good CPA in Massachusetts that has experience in real estate investing. I'd like to get some tax advice from them. If you have any suggestions please let me know!

Thanks,

-Joe

[Ann Bellamy]

Sure @Marta M.  .  For consultation and tax planning, I use John Hyre in Ohio.  He is a real estate investor, real estate attorney and CPA, and speaks nationally on Self Directed IRAs.  I have known John for years, but chose a local accountant, partly for local, and partly because I was skeptical about using a selling speaker as my accountant.  Once I decided I needed to change accountants, I interviewed John and we discussed my entire financial situation.  I was happy with his recommendations.   He weighs out the pros and cons of each action with you, and does not recommend expensive asset protection measures if the benefit doesn't out weigh the cost.  He is fond of saying:  "Don't spend money on asset protection if you have no assets to protect."  A very un-guru like position.  Even if you do have assets, and the cost is high, such as in NH where the transfer tax is cost prohibitive, he compares the possible benefits to the actual cost.

He has an associate who does the actual return, and with whom he works closely.  He sold his tax return part of his practice to Gina Crosby.

Her charge was very reasonable, she was very prompt and she did multiple returns for me.  She also issued a multi-page memo when form 3115 (repairs vs capital expenditures) came into effect explaining the ramifications to real estate investors, and whether and how they should file the form (All this was included because you were her client, and she files the form for you.)  She answers email questions quickly, and when she sends you the completed return, if you use Quickbooks, she sends the adjusting entries.  At no additional charge.  In fact, the first time she did my return, she made all the adjusting entries that I had been unsuccessfully asking my previous accountant for, going back to 2008.  At no additional charge.  

Basically, I am a very happy camper since I switched, and can't say enough good.  If you contact them, tell them I referred you.  They like to know where their referrals come from. 

Disclosure:  Since John is a terrific speaker, I have had him speak at Black Diamond.  He was not allowed to sell anything, and I received nothing for having him speak.  He was so good and so well received we are having him back again this year.  He is very frank during his presentation about speaking because he is looking for clients, but who isn't looking for more business?  

If you PM me I'll send you their contact info.