All Forum Posts by: Chris Picciurro

I love living in Tennessee except for our franchise & excise (FAE) tax. There are some exemption to the tax that you should be aware of. Are the members of the partnership related? What type of assets does the partnership own?

Welcome to the community @Vincen Dailey. I am originally from Detroit but moved to Nashville 7 years ago. Still a HUGE Detroit Tigers fan. I would get involved with some local real estate meetups. 

There is nothing wrong with having a CPA firm that focuses on real estate work on your personal tax planning, strategy and preparation. The firm that helps with the non-real estate business can be complimented with personal planning and strategy. We use multiple doctors, dentists, etc. Having a financial advisor that your personal CPA is aligned with is critical to preserving tax dollars!

Depreciation will provide you with largest deduction (most likely). I agree that looking at a cost segregation study makes a lot of sense. Also consider a cost segregation study on another property in your portfolio to offset NNN income.

A lot of great industries with solid histories in Ohio. MTRs seem to have great opportunities in these markets.

What are the drivers in Ohio? Sporting events, medical care (a lot of good hospital, Cleveland Clinic, etc.), anything else? Thank you!

Great question - tax flow vs. cash flow. What is your goal over the next few years? If you itemized then your mortgage interest would be deductible. 

Sounds frustrating. That said, remember you have 3 years to amend your tax return. The mistake can be corrected by working with a knowledgeable tax professional. Sorry to hear of this experience.

Are you only looking in Tucson? That is pretty restrictive when looking for an industry expert.

I have a CPA colleague that moved from NC to Atlanta. He probably still has many clients in Charlotte - https://www.markperlbergcpa.co...