Seeking CPA / Tax Professional in the Greensboro NC / Triad area

[Carl Kallgren IV]

Hey BP fam! Looking for some tax professional / CPA recommendations.

Looking for a tax pro / accountant in Greensboro, NC who has experience working with real estate investors, but more specifically one with expertise in the following areas:

• *Note investing (seller-financing)*
• LLCs and Land Trusts

Within the Triad would be great, but I’m willing to travel to Raleigh, Durham, Charlotte, Fayetteville, etc in North Carolina if they have experience in note investing, specifically note creation and seller-financing. Experience with land trusts is an added bonus.

I know there are a ton of tax professionals who work in the real estate space, but I’m really looking for someone who has worked with investors and with notes. I’m just getting started, and would love to find someone who I can work with for the duration of my investing career.

I plan on attending a REIA meetup and asking for recommendations there as well. Some firms that I'm currently considering include:

• Bernard Robinson & Company
• Debbie Brower, CPA
• Dodson, Shelton & Nelson
• Ann R. Craven, CPA
• Mildrid Esua, CPA

Thanks for your recommendations!

[Greg Fitch]

Carl, I invest in multifamily in the Triad. It’s been challenging trying to find a CPA with a deep understanding of real estate tax issues, especially planning, not forensics. I use a firm here in Chapel Hill but this is not their forte so I will not recommend them. Unfortunately I dont know any of the Triad based firms you listed. You might look at Brandon Hall’s real estate accounting firm. He is based in Raleigh but his associates are all over the country. It’s sort of a virtual and millennial firm. Brandon Hall hosts a pretty good podcast called the Real Estate CPA. That might give you a sense of whether it’s a fit. Best, Greg

[Elea Reyna]

Hi Carl! Did you happen to find a tax professional that works with real estate investors? I purchased my first investment property this year and am looking for someone to help me as well. Any recommendations will be much appreciated! Happy New Year btw!

[Basit Siddiqi]

@Elea Reyna

I read your profile and it mentions that you recently purchased a house-hack.

House hacking makes your tax situation more complex.
You purchased a property that is treated as both an investment property and a personal residence. As such, payments that you make need to be prorated between business deductions and personal deductions.

Payments that you make normally fall into one of 3 buckets
100% of the payment can be factored in somewhere on the return
Partial payment can be factored somewhere on the return
0% of the payment can be factored in somewhere on the return

House-hacking also has considerable tax implications in the event that you want to sell this property.

You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.
You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion