Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Chicago Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

18
Posts
10
Votes
Kevin Scanlan Jr.
  • Rental Property Investor
  • Chicago, IL
10
Votes |
18
Posts

Chicago Tax Accountant Recommendation (house hack & rehab cost)

Kevin Scanlan Jr.
  • Rental Property Investor
  • Chicago, IL
Posted

Hello fellow Chicago BPers,

I just bought my first rental property in Chicago last June. It's a 3-unit property. I'm currently renting out the bottom and top units, with me living in the middle one. I also Airbnb my other two extra bedrooms on my floor for extra income. In 2019, I also did major rehab to both the top unit and the one I'm currently living/airbnbing in.

I wanted to reach out to fellow real estate investors in the Chicago land area about their accountants:

  1. 1) Do you have a recommendation for an accountant that you've personally had a great experience with from the Chicago land area that is very knowledgeable about real estate taxes (especially about house hacking/airbnb and rehab depreciations)?
  2. 2) Only looking for an accountant to fill out my Schedule E and Form 1040 for CY19.
    1. Are there any other tax forms I should be aware of, besides the two listed above?

I have bit of a mess when it comes to my normal tax returns due to my income and sold assets with my side business with Youtube. I currently have two of my close friends who were in the Big 4, handle my personal taxes, so that's why I'm only interested in doing the Schedule E and Form 1040 from a specialized accountant in real estate.

Thank you in advance for your help!

Best,

Kevin

Most Popular Reply

User Stats

4,183
Posts
2,547
Votes
Jonathan Klemm
  • Contractor
  • Chicago, IL
2,547
Votes |
4,183
Posts
Jonathan Klemm
  • Contractor
  • Chicago, IL
ModeratorReplied

@Kevin Scanlan Jr. - I would definitely connect with @Steven Hamilton II.  He's done my taxes the last 3 years here in Chicago and he works specifically with real estate investors.  

He understands all the minute tax details and works with you to strategize ahead of tax day instead of being reactive at the last minute.   He just gave a great presentation at @Weston Harding meetup yesterday.

business profile image
Quality Builders
5.0 stars
35 Reviews

Loading replies...