A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Hi @Nancy Cho happy to connect and talk business.

She also mentioned that they’ve been in real estate since 2006 and have managed over 30 properties (though this is more of a side business for them), which suggests a mom-and-pop operation.

They lower taxable income for federal taxes but not for FICA.However, employer contributions made by the S-Corp are not subject to FICA and count as a business expense.Make sure your W-2 correctly reports wages, deferrals, and FICA wages.

Almost any business you look at has its own gurus and scammers.

They make their money off of real estate agents, but real estate agents are the worst people to make money off because they are highly unreliable and in and out of the business when the market changes.Their target should be the consumer with higher levels that they can subscribe too for data, since Zillow is linked to the MLS now which makes their data somewhere more reliable.

Quote from @La Toya Flowers Butler: I'm a newbie to real estate investing, looking to learn, cultivate business relationships, and invest!  

Operating within California means you’ll need to register any LLC conducting business in the state, regardless of where it’s formed.

Would that lower our tax liability from other income we receive or no because this is purely RE and not an operating business?

I've never seen such a mismanaged business.