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All Forum Posts by: J Zev J.

J Zev J. has started 4 posts and replied 404 times.

Post: Accounting for new investor

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

@Evelin Montenegro - Congrats on being under contract. In the beginning, your property manager should provide you statements that will contain most of your transactions. For the transactions not in the pm statement, you can keep track of in a spreadsheet or use something free like Stessa, just to get started. Then as you scale, you can migrate to something more sophisticated. 

Post: How to manage a property manager?

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

@Arthur Schwartz - Do they have some type of online portal where you can review the rental income/expense activity? 

Post: Looking for CPA reccomendations in Oregon

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

@Brandon Laney - It's sometimes difficult to find a CPA who both specializes in real estate and is located close to you in Oregon.

There are lots of good CPAs and Enrolled Agents on Bigger Pockets who work remotely and have clients all over the country. You can just reach out to them and determine which one fits your needs the best.

Post: Big dilemma - Buy at high prices now or wait for a correction

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

What's the alternative if not investing now? It could be you could come up with alternatives (ie building capital some other way) which might make sense for your personal situation and risk profile. 

Post: Bitcoin is 10k again what are you going to do now?

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258
Quote from @Eric Carr:
Quote from @J Zev J.:

Is there a terminal value to it?

Think of it this way

There are currently around 300,000 million wallet holders. Around 19m bitcoin in circulation, an estimated ~4m lost. 21m that will ever be mined

There are currently 46m millionaire's on the planet. Not enough bitcoin for for every millionaire to hold one botcoin 

 I'm not sure what your point is. Scarcity doesn't necessarily mean it's valuable. I'm just trying to understand what you think the ultimate dollar value per BTC will finally be (stabilize at) and why you think that.

Post: Wanted: Investor-Friendly CPA in NorCal

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

@Sal Bisagno - It's sometimes difficult to find a CPA who both specializes in real estate and is located close to you in the Sacramento area.

There are lots of good CPAs and Enrolled Agents on Bigger Pockets who work remotely and have clients all over the country. You can just reach out to them and determine which one fits your needs the best.

Post: Are you ready for INFLATION?!

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

@Troy Halsey - It depends what you think 'normal' is. I've been reading estimates from a 20% - 40% correction. I have also seen some experts say an even smaller correction. Either way, most of them don't see a correction coming any time soon in the housing market. 

Post: How does tax season work at the end of the day?

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

@Thomas Ingrao - There are lots of moving parts in a tax return (kids, spouses, withholdings, stimulus payments etc). If you want a rough estimate of your refund you can try the free tax calculator at Intuit at https://turbotax.intuit.com/ta...

Post: Real Estate CPA in the Russellville area of Arkansas

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

@Billy Daniel - It's sometimes difficult to find a CPA who both specializes in real estate and is located close to you in west-central Arkansas.

There are lots of good CPAs and Enrolled Agents on Bigger Pockets who work remotely and have clients all over the country. You can just reach out to them and determine which one fits your needs the best.

Post: Bitcoin is 10k again what are you going to do now?

J Zev J.Posted
  • CPA
  • Colorado Springs, CO
  • Posts 413
  • Votes 258

Is there a terminal value to it?