All Forum Posts by: Todd Foust

Thank you so much for all the feedback, everyone. Especially loved the analogy of trying to find a caterer in the middle of Thanksgiving week. I forgot about the extended tax deadline 10/15. I'll review several of the references recommended and move forward. Seriously, truly appreciate the help. Very insightful. 

*Advice. 

Hey team,

I have a unique combination of tax situations, and I am trying to identify an appropriate CPA. Here is my issue: 

- I live in South Carolina

- My W2 and primary income is from company in North Carolina

- I'm starting a real estate rental business in Illinois

I started looking for CPAs to help and figured I'd start with accountants in South Carolina but so far everyone I contacted simply responded with "not taking new clients". I wonder if that is a graceful way of saying I cannot help you with your taxes in Illinois as I'm only license in South Carolina?

Questions

1. In order to get a CPA, would they need to be licensed in all three states in order to help me both with Personal and Business taxes/accounting needs? If this is a requirement, feels like odds would be low to find a match? 

2. Should I instead just try to land an accountant in Illinois and JUST ask them to do the accounting and taxes for the business only, then I'll just tackle the personal taxes like I have always done? 

3. Third idea was to see if TurboTax may still be able to tackle my scenario. Anyone use TurboTax to help manage the business taxes and returns, depreciations, tax benefits etc? 

Thanks for any advice or experience you can share. 

-Todd

Hey BiggerPockets crew! 

I’m Todd, the newest addition to the real estate circus. 

Why I'm Here:

I’m here to learn, share, and maybe even drop a few dad jokes along the way. If you see me asking questions like, “How do I unclog a toilet with a shoelace?” or “Is it legal to build a treehouse on a duplex roof?”—just know I’m serious.

Goals:

Short-Term: Survive my first property acquisition and placing a tenant. 

Long-Term: Own enough properties to build a monopoly board. (I call dibs on the “Boardwalk”!) 

Looking Forward:

I can’t wait to connect with fellow investors, landlords, and anyone who knows how to fix a leaky faucet without summoning a plumber. 

Feel free to drop me a message, share your wisdom, or challenge me to a property-pun showdown!

Cheers

-Todd

Just