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Updated almost 5 years ago on . Most recent reply

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

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4,089
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Jonathan Klemm
  • Contractor
  • Chicago, IL
2,491
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4,089
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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.

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