All Forum Posts by: Phillip Scalise

A virtual mailbox is essentially a company that you hire to receive your mail, on behalf of yourself or a business you own. Much like a PO Box, you often want to use something that isn't tied to your name when setting up a business LLC, which requires a business address. The company receives your mail, scans to a portal and you decide what to do with it next (shred, save, mail to you, etc).

Looking for recommendations on the best virtual mailbox for my real estate business, which primarily does buy and hold long-term rentals. Looking for a very reliable company that has a very user friendly, modern interface online and with mobile devices. Thanks for any and all help. So far, I have looked at ipostal1 and find it looks good but have no experience. 

Hi everyone, I have spent the last five years trying to find a real estate CPA but with every interview I find that the CPAs involved in real estate charge thousands and thousands of dollars just to start with them. I have four single family homes and look to expand. I would like to have guidance on using a virtual mailbox and obviously minimizing my tax burden but I can’t seem to find anyone who seems to have my best interest in my, and it’s hard to find a CPA with the character of wanting to help me grow verses just charging extremely high rates without laying out how this will help me grow my wealth. Does anyone have any referrals of a great CPA fit for me as I travel the country working as a traveling physical therapist? Is that just the price we have to pay or are there amazing CPAs, who know real estate, willing to meet us where we are at? Thank you all so much for any and all help! Also, has anyone else had these same troubles?

Has anyone worked with, or heard of, Royal Legal Solutions and WealthAbility? I currently work with Royal Legal Solutions for my attorney needs/setting up my legal structure, and I’ve been in search of a CPA for my accounting needs. Both companies seem great but I want the very best. Royal Legal Solutions is looking to start their own in house CPA services, which is exciting. Does anyone have experience with either company or advice on which direction/company to go with. Curious if Royal Legal is as elite as WealthAbility seems to be. Thanks for any help. 

I have approximately 50% equity in a $315k property and would like to borrow money against it with a HELOC. Haven't done it before but does anyone know a bank that will do that or if it's possible? (Not sure if HELOCs are just on your primary residence or if they can be on a rental) Thank you.

Thank you both. I love Tom Wheelwright, writer or Tax Free Wealth, as he seems very on top of everything dealing with taxes, however, their buy in fee is outrageous so it seems hard to find a CPA as good and passionate about this field for a reasonable price. Thanks for the info from both of you. Hopeful to find the right fit!

Has anyone used TurboTax for filing their taxes while owning rental properties, managed by property management, and having a W2 job?

As a traveling physical therapist, it's nice to have digital tax filing but I don't know if TurboTax CPAs are good enough with real estate to handle depreciation and all the benefits you may receive as an investor. I also have an LLC and a series LLC.

Does anyone know if TurboTax can handle all of this? I saw they have a real estate/business investor program so I though maybe. Thank you so much for any and all help!

Hey guys, I am starting a series LLC and need to get a business address set up. I do a lot of traveling so I figured a virtual mailbox would be best but I know that there is also the option of getting a PO Box. Do you guys have recommendations on what would be the best and why? And also do you have any recommendations on which company is the best and most user-friendly with iPhone apps and features? Thank you so much for any help!

I have a CPA that does my taxes and I have just 3 single family homes. The taxes seem very easy as I just need to write off expenses and depreciation against my rental income and then carry that over to my personal income as well. Sometimes I think I could do it on TurboTax myself, BUT I wanted to have a CPA to ensure it’s done right. When do you think I’d need to get one of these expensive real restate professional CPAs? Or do most CPAs know how to do the taxes to the extent I need? I don’t know what I don’t know so that’s what I’m trying to figure out.

Hi, does anyone have any great recommendations for a real estate attorney who can affordable set up LLCs and deed properties to them while also not charging monthly fees to be the registered agent?

Or someone who could teach me how to take what I have set up through a law firm in Texas and do most of the work myself. Sick of paying $50/month just to be their client basically.

I would love if the attorney was a professional who could do things digitally and “cutting edge” because I travel a lot. Thanks everyone for any help!